Nifty heads for its worst year in over a decade as November begins

The Nifty50 has lost about 13% so far this year, putting it on course for its weakest annual showing in more than a decade. Brokerages IIFL Capital and Nuvama say its slide into oversold territory could spark a short-term rebound, possibly towards 23,300-23,500, but high crude prices and global appetite for AI-linked markets may cap gains.