Indian Stocks Plunge, Erasing Trillions in Market Cap

Business Standard Markets · stocks

Nearly 40% of Nifty stocks have fallen over 20% from their 52-week highs, leading to a ₹31.35 trillion erosion in market capitalisation. Infosys saw the steepest decline at 42.1%, followed by Wipro and TCS. The Nifty 50 index itself is down significantly from its peak. This correction reflects a valuation reset after sharp prior gains, influenced by profit-booking, global yields, and sector-specific headwinds. Many expensive stocks, particularly in IT and banking, are undergoing a reassessment.