The ongoing Samvat (2082) is the one that some investors' would rather forget. The past year has been a difficult one for investors, with several stocks losing more than half their market value as global uncertainties, persistent foreign institutional investors (FIIs) selling and concerns over earnings weighed on sentiment.
Bloomberg data covering 413 Nifty 500 companies shows that 264 of the 402 stocks with available return data declined between October 21, 2025 and November 2, 2026. The analysis includes stocks that had at least 10 analyst recommendations each.
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About 14 stocks fell 50% or more during the aforementioned period. Among the top drags were Awfis Space Solutions, KEC International and HG Infra Engineering. Meanwhile, Swiggy, Kaynes Technology and KPIT Technologies also saw sharp corrections.
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This comes as the broader market environment remained challenging, with rising crude oil prices, geopolitical tensions including Russia-Ukraine war and US-Iran war, supply-chain disruptions and concerns over a weak monsoon adding to investor woes.
Additionally, sustained selling by FIIs further weighed on the market sentiment.
Notably, investors turned more cautious about valuations and earnings prospects, making it harder for companies to sustain their stock market gains.
Here is a look at the 10 stocks that lost more than 50% of their market value during the period:
| Stock Name | Decline In Market Value (%) |
|---|---|
| Awfis Space | -62.17% |
| KEC International | -60.97% |
| HG Infra Engineering | -59.19% |
| Swiggy | -59.13% |
| Le Travenues Technology (ixigo) | -57.57% |
| PNC Infratech | -56.63% |
| Greenpanel Industries | -56.37% |
| Kaynes Technologies | -54.41% |
| Aditya Birla Fashion And Retail | -53.64% |
| Afcons Infrastructure | -53.64% |
The list of wealth destroyers goes beyond just 10 stocks. About 14 stocks in total were among the top laggards, tanking either a 50% hit or over.
Among those, KPIT Technologies fell 53.48%, closely followed by Cohance Lifesciences (50.54%). Bajaj Electricals and Ashoka Buildcon, too, dropped 50.25% and 50.06%, respectively.
Why Did These Stocks Come Under Pressure?
Persistent FII selling and global uncertainty
One of the biggest headwinds for Indian equities was continuous selling by foreign investors. FPIs withdrew nearly Rs 2.95 lakh crore from Indian equities in 2026, with October marking the second consecutive month of heavy outflows.
High US bond yields, a stronger dollar, elevated crude oil prices and the search for better investment opportunities in other markets contributed to the selling, according to analysts. The shift in global capital towards other Asian markets, particularly amid the artificial intelligence (AI)-led rally, also affected India's attractiveness to overseas investors.
Notably, the selling pressure was particularly visible in mid-cap and small-cap stocks, where investors tend to be more sensitive to changes in risk appetite. When foreign investors reduce their exposure to a market, stocks with relatively weaker liquidity and expensive valuations can face sharper corrections.
2. War-related disruptions and higher input costs
Geopolitical tensions, particularly the conflict in West Asia, added another layer of uncertainty. Disruptions to shipping routes and supply chains, along with volatility in crude oil prices, raised concerns over higher transportation, energy and raw material costs.
For companies operating in infrastructure, construction, manufacturing and consumer-facing businesses, higher input costs can put pressure on operating margins if they cannot be passed on to customers.
The impact of geopolitical tensions also extended to fertiliser availability and agricultural inputs, adding to concerns around India's farm economy.
3. Weak monsoon and El Niño concerns
Weather-related concerns also added to the uncertainty. The possibility of below-normal rainfall due to El Niño raised concerns about agricultural output, rural incomes and consumption demand.
A weak monsoon can affect rural consumption, demand for consumer durables and building materials, while also creating uncertainty for companies dependent on agricultural demand. Lower rural spending can particularly affect businesses that rely on discretionary purchases.
4. AI disruption and changing investor preferences
Artificial intelligence emerged as another factor influencing global investment flows. While AI-related companies attracted major investor interest, concerns grew over the potential disruption of traditional business models, particularly in the IT services industry.
Indian IT companies faced pressure as investors reassessed the long-term impact of AI on outsourcing, software development and traditional technology services.
This changing preference for AI-linked opportunities also meant that some traditional technology companies faced greater scrutiny over their future growth prospects. KPIT Technologies was among the stocks that witnessed a sharp correction during the period.
5. Company-specific concerns and valuation corrections
Beyond macroeconomic factors, individual companies also faced their own challenges. Earnings performance, execution risks, order inflows, margins, competition and high starting valuations can all influence stock performance.
Stocks that had previously commanded premium valuations became vulnerable when earnings growth failed to match investor expectations or when market sentiment weakened.
For investors, this meant that even companies operating in promising sectors were not immune to sharp corrections.
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