Bajaj Finserv, Infosys, and TCS were among 10 Nifty 50 stocks that concluded the tumultuous September with double-digit losses and contributed heavily to the market decline.
Indian stocks grappled with multiple challenges last month, including elevated crude prices, persistent selling by overseas investors, and surging global bond yields, leaving little room for bulls to intervene.
The sell-off spared no sector, with tech stocks continuing to bleed heavily, followed by FMCG and auto stocks. On the flip side, primary market activity remained robust in September, with offerings by National Stock Exchange of India and SBI Funds Management.
Which Nifty 50 stocks fell the most in September?
Bajaj Finserv was the top laggard among Nifty 50 constituents, falling 14.35% to ₹1,731, its biggest monthly drop since March. The losses have widened the company’s year-to-date decline. This was followed by Infosys and TCS, which fell 13.1% and 12.4%, respectively, as per the Trendlyne data.
Among auto stocks, Mahindra & Mahindra, Eicher Motors, Tata Motors Passenger Vehicles, and Maruti Suzuki India posted losses of 11.5%, 11.3%, 11.2%, and 10.5%, respectively. In terms of year-to-date losses, M&M and TMPV have declined 21% and 22.83%, respectively.
| Stock Name | Crash in September |
|---|---|
| Bajaj Finserv | 14.35% |
| Infosys | 13% |
| TCS | 12.4% |
| Mahindra & Mahindra | 11.5% |
| Eicher Motors | 11.3% |
| Titan Company | 11.3% |
| Tata Motors Passenger Vehicles | 11.2% |
| Bajaj Finance | 11.2% |
| Maruti Suzuki India | 10.5% |
| Nestle India | 10% |
| Source: Trendlyne | |
Looking at consumer goods stocks, Nestle India was the worst performer, falling 10% to ₹12.46%, marking its biggest monthly drop since October 2024, when it plunged 15.87%. Other stocks such as Titan Company and Bajaj Finance, fell by 11.3% and 11.2% respectively.
Nifty 50 heads for worst annual decline since 2011
Nifty 50 plunged 6% in September, taking its 2026 decline to 13.5% and positioning it for its biggest annual decline since 2011, when it plunged 24.62%.
Over the last two decades, the index has recorded double-digit losses only twice. From 2016 to 2025, the markets enjoyed an uninterrupted bull run, closing each of those years in the green. If not for the ongoing support from domestic mutual funds, largely backed by retail investors, the losses could have been even steeper.
Notably, the losses are limited to Indian stocks, as other major Asian markets such as South Korea, Japan, and Hong Kong have registered multiple record highs, with chip stocks providing significant support.
Crude oil prices, higher inflation, rising interest rates, and persistent foreign investor selling are among the key factors keeping Indian equities under pressure.
Meanwhile, weak rainfall and volatile input costs are adding to pressure on the rural economy. Expectations of further US Fed rate hikes have also weighed on investor sentiment.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
About The Author
