Nifty 50 COVID Crash of 2020 — Drawdown & Recovery Across NSE Indices (Month-End Data)
Data as of 2025-06-30 · Window: 2020 COVID crash · Source: NSE index month-end closing values (Nifty Bank / IT / Midcap 100 / Smallcap 100 series retrieved via the EODHD historical data API)
Answer
During the 2020 COVID crash, the Nifty 50 fell -29.3% on a month-end basis, from its Dec 2019 peak to its Mar 2020 trough, and took 8 months from the trough to regain the prior peak. The recovery was unusually fast compared with the 2008 episode. Figures use month-end closes; intra-month daily drawdowns were deeper. Past performance does not predict future results.
NSE index drawdowns — 2020 COVID crash (month-end basis)
| Index | Peak | Trough | Depth | Recovery (from trough) |
|---|---|---|---|---|
| Nifty 50 | Dec 2019 | Mar 2020 | -29.3% | 8 months |
| Nifty Next 50 | Aug 2018 | Mar 2020 | -31.2% | 9 months |
| Nifty Midcap 50 | Dec 2017 | Mar 2020 | -41.1% | 8 months |
| Nifty Smallcap 50 | Dec 2017 | Mar 2020 | -62.2% | 14 months |
| Nifty Bank | Dec 2019 | Mar 2020 | -40.5% | 11 months |
| Nifty IT | Apr 2019 | Mar 2020 | -23.6% | 4 months |
| Nifty Midcap 100 | Dec 2017 | Mar 2020 | -44.6% | 11 months |
| Nifty Smallcap 100 | Dec 2017 | Mar 2020 | -60.5% | 14 months |
| Nifty Low Volatility 50 | Jan 2020 | Mar 2020 | -19.5% | 4 months |
Source & methodology
- Source: NSE index month-end closing values (Nifty Bank / IT / Midcap 100 / Smallcap 100 series retrieved via the EODHD historical data API). Data window: 2020 COVID crash. As of: 2025-06-30.
- Source: NSE index month-end closing values (Nifty Bank / IT / Midcap 100 / Smallcap 100 series retrieved via the EODHD historical data API) (price return — closing values exclude dividends; total-return variants of these indices compounded higher).
- CAGR computed between month-end closes: (end / start)^(1/years) − 1.
- Calendar-year returns computed December-close to December-close.
- Drawdowns computed on month-end closes (month-end basis). Intra-month daily drawdowns were deeper than month-end figures.
- All statements are historical observations, not forecasts or recommendations.
Frequently asked questions
How much did the Nifty 50 fall in the 2020 COVID crash?
During the 2020 COVID crash, the Nifty 50 fell -29.3% on a month-end basis, from its Dec 2019 peak to its Mar 2020 trough, and took 8 months from the trough to regain the prior peak. The recovery was unusually fast compared with the 2008 episode. Figures use month-end closes; intra-month daily drawdowns were deeper. Past performance does not predict future results.
Which NSE index fell the most in the 2020 COVID crash?
On a month-end basis in this dataset: Nifty Smallcap 50 -62.2%; Nifty Smallcap 100 -60.5%; Nifty Midcap 100 -44.6%; Nifty Midcap 50 -41.1%; Nifty Bank -40.5%; Nifty Next 50 -31.2%; Nifty 50 -29.3%; Nifty IT -23.6%; Nifty Low Volatility 50 -19.5%. Smaller-cap indices generally fell more than the Nifty 50. Past performance does not predict future results.
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BacktestIndia is an educational research platform, not a SEBI-registered investment adviser or research analyst. Everything on this page is a historical computation from recorded market data, presented for education. It is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not predict future results. Backtested results have inherent limitations and do not represent actual trading. Consult a SEBI-registered investment adviser before making investment decisions.