Market riding high but 12 stocks are still down 30%-81% this year; check full list

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Also Read: Nifty 50 hits record high; 5 key factors that drove the market The impetus for today's market surge was primarily driven by the release of India's GDP numbers on Thursday. The country's economy exhibited robust growth, expanding by 7.6% in the September quarter of the current fiscal year, surpassing analysts' expectations.

This stellar performance solidifies India's standing as the fastest-growing large economy, outpacing China, which reported 4.9% growth in July–September 2023. Despite the bullish sentiment, some stocks are trading with deep cuts, leaving investors disappointed.

According to Trendlyne data, there were some 12 stocks within the Nifty 500 index that have witnessed a considerable erosion in market value, painting a contrasting picture against the backdrop of the broader market rally. Also Read: BSE MidCap and SmallCap hit fresh record highs, up over 35% in CY23 so far These stocks have witnessed substantial losses ranging between 30% and 81% throughout this year, with Adani Group companies emerging as the most impacted.

The group stocks have rallied sharply recently after the Supreme Court reserved its order on multiple public interest litigation pleadings for an investigation into the allegations of manipulations and corporate malfeasance in the Hindenburg report. Adani Group stocks surged by over a lakh crore in a single session on Tuesday, November 28, marking the first instance of such substantial growth since the Hindenburg episode back in January this year.

Despite the recent uptick, five Adani Group stocks continue to trade with significant declines. Adani Total Gas leads the group of worst performers, experiencing a substantial 81% drop, plummeting from ₹3,700 apiece to ₹701.45 this