The pattern hit a report combination market cap of $413 billion on December 13, 2024. Its market cap as on Could 14, 2026, has fallen by $186 billion, or 45%, from that peak to $227 billion.
In 2026 to date, the pattern pack has misplaced $98.7 billion, or 30%, in market cap. When particular person peak market caps of the pattern corporations are thought-about, the loss quantities to $193 billion, reflecting the worst bout of absolute market cap erosion, implying a forty five% fall.
CompaniesTCS and Wipro suffered the sharpest fall of over 50%, amounting to $87 billion and $21 billion in absolute phrases from their respective peaks. Alternatively, Tech Mahindra and Persistent Systems shed 25% and 30% throughout the interval, the bottom among the many pattern corporations.
Market cap erosion just isn’t new to the Indian IT sector. It has proven excessive volatility in instances of geopolitical uncertainties and technological shifts. Whereas the present rout is the most important when it comes to absolute erosion, the largest proportion change was throughout the dot-com bubble burst in 2000 when prime IT shares fell by as a lot as 75% in a span of six-seven months.
Once more, throughout the subprime disaster of 2008, the shares misplaced 50-70% in a span of 9 months. In the course of the 2013 taper tantrum, IT shares shed 15-30% in a span of two months.