Infosys, TCS Among 10 Nifty 50 Stocks with Double-Digit Losses in September

September proved to be a difficult month for Indian equities, with 10 prominent Nifty 50 stocks registering declines exceeding 10 percent. Among the hardest hit were Bajaj Finserv, Infosys, and Tata Consultancy Services (TCS), each posting steep losses that contributed significantly to the overall market downturn.

The market slide was driven by multiple factors, including persistent high crude oil prices, aggressive selling by foreign investors, and a rise in global bond yields. These elements created an unfavorable environment for investors, limiting any upward momentum. As a result, the Nifty 50 index dropped by 6 percent in September, bringing its year-to-date fall to 13.5 percent, putting it on track for its worst annual performance since 2011.

Among the individual stocks, Bajaj Finserv experienced the largest percentage drop, falling 14.35 percent to close at ₹1,731 at the end of the month. This represented the company’s steepest monthly loss since March and deepened its cumulative decline for the year. Infosys and TCS also faced significant setbacks, sliding by 13.1 percent and 12.4 percent respectively according to Trendlyne data.

The auto sector was not spared, as Mahindra & Mahindra, Eicher Motors, Tata Motors Passenger Vehicles, and Maruti Suzuki India also recorded declines ranging from 10.5 to 11.5 percent. Year-to-date, Mahindra & Mahindra and Tata Motors Passenger Vehicles have seen decreases of 21 percent and nearly 23 percent respectively, reflecting broader sector challenges.

Consumer goods companies faced pressure as well. Nestle India dropped 10 percent, marking its largest monthly fall since October 2024 when it declined by nearly 16 percent. Other notable losses included Titan Company and Bajaj Finance, which fell 11.3 percent and 11.2 percent respectively during September.

The broader Nifty 50 index’s 13.5 percent decline in 2026 marks a sharp contrast to the previous decade, which was characterized by steady growth and annual gains. Since 2016, Indian markets have enjoyed a continuous bull run, with no years ending in negative territory until now. Analysts note that domestic mutual funds, supported heavily by retail investors, have helped cushion the impact, preventing even steeper losses.

Interestingly, this downtrend appears largely confined to Indian stocks. Major Asian markets such as South Korea, Japan, and Hong Kong have continued to hit record highs during the same period, with semiconductor stocks playing a key role in their gains.

Several macroeconomic pressures have weighed on Indian equities. Elevated crude oil prices have pushed inflation higher, while expectations of further interest rate hikes by the US Federal Reserve have dampened investor enthusiasm. Additionally, ongoing foreign portfolio outflows have limited upward momentum. The rural economy is facing challenges too, impacted by erratic rainfall patterns and fluctuating input costs, which add further strain on overall growth prospects.

This sequence of events highlights the complex interplay of global and domestic factors influencing the Indian stock market. As investors navigate these headwinds, attention will likely remain on crude oil trends, foreign investment flows, and central bank policies both in India and abroad.

About the Author

Ksheera Sagar is a Market Research Analyst at LiveMint, with four years of experience covering stocks, commodities, and financial markets. His background includes roles at global investment bank J.P. Morgan and extensive expertise in equity research and market analysis. Ksheera is known for clear, data-driven reporting that explains complex financial developments. Beyond work, he enjoys playing piano and exploring new destinations, with a keen interest in economic trends worldwide.