Sensex, Nifty log worst month in 2023

Indian blue-chip stocks experienced their worst month in 2023 as a result of elevated US interest rates and rising oil prices due to the Middle East conflict. The NSE Nifty 50 fell by 0.32% and the S&P BSE Sensex dropped by 0.37%. Foreign investors sold off INR 228.50 billion ($2.74 billion) worth of Indian shares in October, the highest amount since January. The US Federal Reserve's indication of higher interest rates also contributed to the selling pressure.