Nifty Smallcap 100 Maximum Drawdown — Worst Crashes in History (Jan 2004–Mar 2026)
Data as of 2026-03-31 · Window: Jan 2004 – Mar 2026 · Source: NSE index month-end closing values (retrieved via the EODHD historical data API; month-end closes validated against NSE published values)
Answer
On a month-end basis, the deepest drawdown of the Nifty Smallcap 100 index between Jan 2004 and Mar 2026 was -75.0%, from a peak in Dec 2007 to a trough in Feb 2009 (14 months peak-to-trough). Recovery to the prior peak took 88 months from the trough. Intra-month daily drawdowns were deeper than these month-end figures. Past performance does not predict future results.
Five deepest drawdowns of the Nifty Smallcap 100 (month-end basis)
| Peak | Trough | Depth | Peak→Trough | Recovery (from trough) |
|---|---|---|---|---|
| Dec 2007 | Feb 2009 | -75.0% | 14 months | 88 months |
| Dec 2017 | Mar 2020 | -60.5% | 27 months | 14 months |
| Dec 2021 | Jun 2022 | -25.2% | 6 months | 13 months |
| Aug 2024 | Feb 2025 | -23.9% | 6 months | Not recovered by Mar 2026 |
| Apr 2006 | Jul 2006 | -17.5% | 3 months | 3 months |
Source & methodology
- Source: NSE index month-end closing values (retrieved via the EODHD historical data API; month-end closes validated against NSE published values). Data window: Jan 2004 – Mar 2026. As of: 2026-03-31.
- Source: NSE index month-end closing values (retrieved via the EODHD historical data API; month-end closes validated against NSE published values) (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
What was the maximum drawdown of the Nifty Smallcap 100?
The deepest month-end drawdown in this dataset (Jan 2004–Mar 2026) was -75.0%, peaking in Dec 2007 and bottoming in Feb 2009. Daily-data drawdowns were deeper. Past performance does not predict future results.
How long did the Nifty Smallcap 100 take to recover from its worst crash?
From the Feb 2009 trough, the Nifty Smallcap 100 took 88 months to regain its Dec 2007 peak, measured on month-end closes (price return, dividends excluded).
Why do these drawdowns differ from daily-data figures?
These figures use month-end closes only. A drawdown measured on daily closes captures intra-month lows and is therefore deeper — e.g., indices fell further intra-month in March 2020 and October 2008 than month-end values show.
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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.