India’s biggest stocks are sitting on a staggering ₹49 lakh crore hole in market value, exposing a deep fracture beneath the headline indices. As many as 47 Nifty constituents have collectively shed ₹48.77 lakh crore from their respective record-high market capitalisations, with TCS alone accounting for more than ₹8 lakh crore of the erosion.
The damage is heavily concentrated as TCS, HDFC Bank, Reliance Industries and Infosys have together lost ₹20 lakh crore, or about 41% of the total erosion, according to ACE Equity data. The 10 biggest laggards account for ₹32.57 lakh crore, nearly two-thirds of the overall wipeout.
