February set to be worst F&O series since November 2016; bank stocks hit

The equity markets set to post their worst performance in 15 months in the February future and option (F&O) series that will end today. At 12:25 pm; Nifty 50 index was trading at 10,351 and has slipped 6.5% thus far, most since the November 2016 F&O series. Derivatives contracts expire on last Thursday of every month.

In November 2016, Nifty recorded 7.5% fall in the F&O series, after the government announced the demonetisation of all Rs 500 and Rs 1,000 banknotes earlier that month.

This time around, the state-owned banks are the top losers, with Nifty PSU Bank index slipping