Nifty 50 hits record high, but these ten index stocks are still down 10–40% in 2025 — Do you hold any?

After multiple failed attempts, the Nifty 50 finally touched a fresh record high of 26,310 in Thursday’s session, November 27, surpassing its September 2024 peak of 26,277.

Sentiment remained in favour of the bulls amid rising expectations of a US Federal Reserve rate cut in December, the return of overseas investors, improving domestic macros, and anticipated earnings recovery, all driving the index to catch up to its Asian peers.

The index has advanced 11% year-to-date, though its performance lags behind other Asian markets, which have been largely powered by the AI rally.

Local equities are yet to catch up, but the index is still poised to post ten consecutive years of gains, supported by robust mutual fund inflows that have offset sustained FPI outflows in 2025.

What drove the market higher?

Despite higher US tariffs on Indian imports, investors shrugged off these near-term concerns, focusing instead on the economy’s solid long-term fundamentals.

Although trade talks between the two nations are still ongoing, the government’s recent initiatives, including GST cuts, have also boosted sentiment.

Meanwhile, India Inc. delivered a solid performance in the September quarter, its strongest in more than a year, with brokerages turning upbeat on profit growth as they anticipate a broader consumption rebound driven by benign inflation, recent tax cuts, and lower borrowing costs.

India’s lower valuation premium compared to Asian peers has attracted overseas investors in recent weeks, especially as the earnings outlook strengthens.

In addition, global brokerage houses, including Goldman Sachs, HSBC, Morgan Stanley, and JPMorgan, have turned bullish on the Indian stock market, citing strong growth prospects, robust corporate earnings, and improving macroeconomic stability.

Trent and TCS among biggest YTD losers

Though the index hit a fresh record high after a gap of 14 months, some stocks lagged, failing to participate in the rally and causing losses for shareholders even as Dalal Street surged.

After rewarding multibagger returns over the last two calendar years, Trent’s share price has come under intense selling pressure this year, already losing 40.11% year-to-date. This marks its biggest yearly decline since 2008, and if it closes the year in the red, which appears likely, it will be its first yearly drop in 11 years.

Investors’ long-standing bullish sentiment toward the stock has dwindled amid the company’s falling revenue, which in the September quarter slipped to a multi-quarter low of 17%. Despite the company’s aggressive store expansion, it continues to see a decline in revenue per square foot, indicating possible store-level sales cannibalization.

Another Tata group company, TCS, has also lost its sheen this year, with the country’s largest software firm shedding 24% of its value so far and heading toward its first yearly decline since 2022. Its peers, including Wipro, Infosys, HCL Tech, and Tech Mahindra, are also down between 17.3% and 11.5% this year.

After delivering positive returns for four straight years, Power Grid Corporation is now set to post negative returns, with the stock tanking 11.34% in 2025. Other stocks in the index, including Adani Enterprises, ITC, and Dr Reddy’s Laboratories, are also down anywhere between 10% and 17%.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.