The Indian stock market has suffered strong losses over the last year, from the beginning of Navratri 2025 to Navratri 2026, amid heightened geopolitical risks, elevated oil prices, and heavy foreign capital outflow.
The Nifty 50 is down 11% since the last Navratri, with index components falling up to 35%.
A glance over the stock market's last year's performance shows that global factors overshadowed domestic resilience. While the Indian economy has been on a solid footing and domestic institutional investors (DIIs) continue buying, the market has been on a downtrend due to persistent geopolitical and macroeconomic headwinds, including higher oil prices due to the US-Iran conflict, the rupee's weakness, rising global bond yields, and massive foreign capital outflow.
FPIs have sold Indian stocks worth ₹3,04,468 crore so far this year, after selling them for ₹1,66,286 crore in 2025.
From Navratri 2025 to Navratri 2026, the Nifty index has declined by double digits (11%). As per capital market data, as many as 31 stocks are in the red in the index over this period, with shares of ITC, Tata Motors PV, Infosys, Jio Financial, and TCS losing more than 30% each.