Four quarters, 27 years
Calendar quarters are the units companies report in and fund houses publish returns for. This post takes every completed quarter of the Nifty 50 since 1999, measured from the last close of the previous quarter to the last close of the quarter, and groups them by quarter of the year.
| Quarter | Years counted | Quarters up | Median | Mean | Best | Worst |
|---|---|---|---|---|---|---|
| January–March | 27 | 13 | −0.5% | −1.3% | +20.0% (2006) | −29.3% (2020) |
| April–June | 28 | 18 | +4.9% | +4.3% | +42.0% (2009) | −15.0% (2004) |
| July–September | 28 | 18 | +4.3% | +4.5% | +24.9% (2003) | −17.5% (2001) |
| October–December | 27 | 19 | +5.9% | +6.0% | +32.6% (2003) | −24.5% (2008) |
What stands out
- October–December has the best median, +5.9%, and rose in 19 of 27 years.
- January–March has the weakest median, −0.5%, with 13 up quarters in 27.
- The extremes come from crises, not seasons. The single worst quarter in the table is −29.3% in 2020 (January–March), which says more about that year than about the calendar.
The current quarter
The October–December quarter of 2026 is not complete. To 19 October 2026 the Nifty 50 is +1.2% from the previous quarter's close.
How much weight to put on seasons
With 27 observations per quarter, one extreme year can move the mean a long way, which is why the median is shown beside it. A difference of a few points between quarters is within the noise. A seasonal pattern resting on 27 observations is a description, not a rule, and it is of little use to someone who invests every month through the year. For finer cuts, see Nifty 50 by calendar month and Nifty 50 returns by weekday.
Source: NSE Nifty 50 daily closes, 1999 to 19 October 2026; price index, without dividends.
Frequently asked questions
Which quarter is best for the Nifty 50?
By median return since 1999, October–December (median +5.9%, up in 19 of 27 years). The weakest by median was January–March at −0.5%.
How is the Nifty 50 doing in the current quarter?
From the end of the previous quarter to 19 October 2026, the Nifty 50 is +1.2%.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are WealthTicker’s own calculations from public data — AMFI’s fund NAVs and disclosures, NSE’s index and FII/DII files, and the fund houses’ monthly portfolios (how we calculate). They are as of the dates stated and can be revised by their source.
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