Bear Grip: 40% of listed stocks 30-95% off year-highs
FPIs have offloaded nearly Rs 2.18 lakh crore worth of Indian equities during this period. Several sectoral indices on the NSE, including auto, metals, oil & gas, energy, realty, media, and PSU banks, have plummeted more than 20% from their 52-week highs.
When an index falls more than 20% from its 52-week high, it is considered to be in a bear market. The Sensex and Nifty are down nearly 13% from their highs.
The Nifty Next 50 index, which represents 50 stocks ranked just below the top 50 in the Nifty, became the first benchmark index this year to technically enter the bear territory, falling 22% from its yearly high.
The selloff has been even more severe among smaller companies. About 222 stocks have plunged between 60% and 95% from their 52-week highs, while 1,186 stocks have declined between 40% and 60%. Another 1,180 stocks have fallen by 30–40%. Even half of the Nifty 50 constituents, including heavyweights like Reliance Industries, Tata Steel, Tata Motors, Bajaj Auto, and Axis Bank, are now trading more than 20% below their 52-week highs, underscoring the broad-based nature of the downturn.
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