Persistent foreign institutional selling alongside high crude prices and inflation sparked widespread selloffs across diverse sectors. Heavily affected businesses span retail, technology, infrastructure, and renewable energy, with some individual counters tumbling more than 70% to 90%. Notably, Swiggy slumped 59% and Reliance Infrastructure dropped 79.14% during this turbulent period. Analysts warn that ongoing elevated valuations relative to underlying earnings mean market volatility is likely to persist.
Key points
Geopolitical conflicts in West Asia threaten smaller businesses by potentially driving up…: Geopolitical conflicts in West Asia threaten smaller businesses by potentially driving up logistics, energy, and procurement expenses.
Future performance across Indian equities remains heavily reliant on earnings momentum to…: Future performance across Indian equities remains heavily reliant on earnings momentum to validate valuations rather than seeing an immediate rebound.
Foreign investor capital outflows combined with high crude oil prices continue to trigger…: Foreign investor capital outflows combined with high crude oil prices continue to trigger sharp volatility across individual company shares.
Sources checked by our analysis pipeline: 1
The selloff has hit companies across sectors, including renewable energy, infrastructure, consumer businesses, technology and financial services. Even prominent names such as Swiggy, KPIT Technologies, Kaynes Technology, Inox Wind and Reliance Power have seen their shares decline by more than 50%. The analysis covers companies with a market cap of at least Rs 1,000 crore.
Elitecon International emerged as the worst performer on the list, with its shares plunging 96%, while Reliance Infrastructure lost 79.14% during the period. Kothari Industrial Corporation and Fischer Medical Ventures also recorded sharp declines of 76.55% and 75.19%, respectively.
Rajesh Exports, BN Agrochem, Oswal Pumps and Allcargo Logistics were among the other major losers, with declines ranging from 71% to 73%.
The scale of the correction highlights the pressure on individual stocks despite periodic recoveries in benchmark indices.
India's equity markets have been weighed down by sustained foreign investor selling, rising crude oil prices, geopolitical tensions in West Asia and concerns over expensive valuations. The weakness has been especially pronounced in smaller companies, many of which had enjoyed substantial gains during the previous market rally.
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