In Charts: Nifty’s Descent Into Bear Territory

India’s equities joined global peers by slipping into the bear market.

The country’s benchmark indices have tumbled more than 20 percent since their January peak, tracking the worst global selloff since the 2008 crisis, as coronavirus threatens trade at a time the Indian economy is growing at its slowest pace in a decade.

On Thursday, the 50-stock index fell 8.3 percent to close at 9,590. These levels on a closing basis were last seen in June 30, 2017. All 50 constituents ended with cuts while 27 of them ended at a 52-week low.

Here are the stocks that dragged the indices into the bear market:

Reliance Industries Ltd., HDFC Bank Ltd., Housing Development Finance Corporation Ltd. and ITC Ltd. contributed the most towards the Nifty’s 20 percent fall from record intraday high.

On the flip side, four out of the 50 stocks— Hindustan Unilever Ltd., Asian Paints Ltd., Nestle India Ltd. and Bharti Infratel Ltd.—were the only gainers since Jan. 20.

In percentage terms, Tata Motors Ltd., Vedanta Ltd. and Oil & Natural Gas Corporation Ltd. have been the worst performers in the Nifty since Jan. 20. The broader markets, represented by the NSE Nifty 500 Index, fell 21.2 percent, led by the slump in Gayatri Projects Ltd., Sadbhav Engineering Ltd. and NCC Ltd.

In the midcap and small cap space, the NSE Nifty MidCap 100 has fallen 20.8 percent since Jan. 20, led by the slump in PNB Housing Finance Ltd., and Canara Bank and Adani Power Ltd.. The NSE Nifty SmallCap 100 dropped 25.2 percent during the period, led by the fall in NCC Ltd., Dish TV India Ltd. and Avanti Feeds Ltd

Among the sectoral gauges compiled by the NSE, the NSE Nifty Metal Index was the worst performer, followed by the NSE Nifty Realty Index, the NSE Nifty Media Index and the NSE Nifty Realty Index.