₹31 trillion wiped out: Why are India’s biggest stocks falling?

The Nifty is about 12% below its 52-week high, while 18 of its 50 stocks have fallen more than 20% from their peaks, collectively erasing ₹31.35 lakh crore in market value. IT stocks have seen the steepest declines, led by Infosys, Wipro and TCS. Analysts cite valuation resets, higher global yields, crude prices, profit-booking and sector-specific concerns. AI disruption worries weigh on IT, while banking sector face funding-cost pressures and foreign investor outflows.