FY26 unfolded like a dramatic tale in the Indian equity markets—marked by highs, lows, and unexpected twists. The year saw intense volatility and ultimately ended on a weak note, as rising geopolitical tensions triggered a steep correction. The Nifty slipped 5% over the fiscal year to close at 22,331, a stark contrast to its record-breaking peak of 26,373, touched on January 5, 2026.

But beneath the headline numbers, the real story was even more sobering. The pain ran deep across the market—nearly half of the Nifty 50 stocks delivered negative returns. Among them, 12 major laggards stood out, each tumbling between 15% and 40%, reflecting broader stress as well as stock-specific struggles in what proved to be a challenging year for investors. (Data Source: ACE Equity)