ITC, Mazagon Dock, Bajaj Housing Finance among 10 NIFTY100 stocks down over 25% from their 52-week highs

NIFTY50 and SENSEX have started the year 2026 on a lower note. Ahead of Budget 2026, both benchmark indices are down 3.1% and 3.4%, respectively. The domestic market sell-off was driven by multiple headwinds impacting investors' sentiments.

Relentless FIIs sell-off

Foreign institutional investors (FIIs) have been continuous sellers of Indian equities for the past several months, and January 2026 is no different. FIIs have sold Indian equities worth ₹41,435 crore in January, making them the net sellers for the seventh straight month.

For the last several years, FIIs used to be the backbone of the Indian markets, but right now, foreign investors are selling continuously amid Indian rupee depreciation, which lowers Dollar returns. As a result, FIIs sell-offs have hampered the overall sentiments of the investors.

Geopolitical concerns

From the global geopolitical perspective, 2026 didn’t start on postive note. On January 3, 2026 United States conducted a large-scale military operation in Venezuela and captured President Nicolás Maduro. This was followed by US President Donald Trump's threat to acquire Greenland and announcement of additional 10% import tariffs on European nations. After this, US-Iran tensions are also on the rise.

These global events have made the global and domestic stock markets very volatile, leading to a recent fall in benchmark indices.

Weak Q3 earnings

The third-quarter earnings season has been mixed, with NIFTY50 heavyweights like Reliance Industries and ICICI Bank reporting flat earnings, which has weighed on investors' sentiments

High market volatility and a downfall in benchmark indices have result weak returns in several prominent stocks

*current market price (CMP) as on 30 January closing

Trent (down ▼39.9%)

Tata group company Trent share price has significantly corrected from its 52-week high of ₹6,270.4. The stock has underperformed as investors turned cautious amid a fall in same-store sales growth, as well as Trent's margins has came under pressure due to aggressive expansion.

Real Estate stocks tumble

Real estate major Lodha Developers and DLF has declined 36.5% and 28.3% from their 52-week highs. Lodha Developers reported pre-sales of ₹5,620 crore in the third quarter, marking a 25% increase YoY. The company posted marginal rise in Q3 profitability at ₹956.9 crore. Meanwhile, DLF new sales booking in December quarter fell sharply to ₹419 crore, compared to ₹12,093 crore in the year-ago period. Despite lower sales, the company reported a 13.6% rise in net profit to ₹1,203.36 crore in the third quarter.

Investors have turned cautious towards the real estate market amid cyclic nature of the industry, which perform well and see high demand when overall economic prospects of the country are positive. In recently concluded third quarters, Oberoi realty and others have reported weak pre-sales numbers. As a results, NIFTY Realty index declined 10.8% in January.

Mazagon Dock Shipbuilders (down ▼31.8%)

Defence PSU Mazagon Dock Shipbuilders shares have declined over 31% from their 52-week high amid correction broader markets. Investors awaits latest quarterly earnings of the company. In September quarter, Mazagon Dock reported 28% YoY rise in net profit to ₹749 crore.

ITC (down ▼31.6%)

ITC shares has witnessed steep fall in last few month after recent excise duty hikes on cigarettes, which is core revenue contributor to the company. Government has imposed hiked excise duty on cigarettes, which will come into effect from 1 February 2026. This excise duty will be over and above the existing indirect tax i.e. GST. Under the new structure, excise duty is charged on per 1,000 sticks, with rates ranging from ₹2,050 to ₹8,500 per 1,000 sticks, depending on the length and type of the cigarette.

This excise duty hike has impacted the investors sentiments leading to the company’s stock hitting 52-week low of 316.45 on January 30, 2026.