Thirty constituents of the Nifty 50 have together eroded investor wealth worth nearly Rs 22.64 lakh crore in 2026 so far amid persistent selling pressure in banking, IT, auto and consumption-linked stocks. The sharp correction comes against the backdrop of tariff concerns, AI fears, expensive valuations, foreign outflows and rising geopolitical tensions, which have weighed heavily on market sentiment this year.
Among the biggest laggards, HDFC Bank has emerged as the top wealth eroder with its market capitalisation shrinking by Rs 3.55 lakh crore, while the stock has fallen over 23% on a year-to-date basis. Tata Consultancy Services (TCS) followed closely, wiping out Rs 3.17 lakh crore in investor wealth as the IT bellwether plunged more than 27% amid mounting concerns over AI disruption and weak discretionary tech spending globally.
