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Eight Nifty 50 constituents had negative five-year returns in the comparison published on October 15, 2026. HDFC Bank was down about 16%, while the Nifty 50 benchmark gained more than 23% over the broad period. The list is a historical performance screen—not a buy, sell or hold recommendation—and the exact result depends on the dates and return method used.
The eight Nifty stocks with negative five-year returns
The Economic Times’ ETMarkets report dated October 15, 2026 identified these eight Nifty 50 stocks as five-year laggards. The percentages are approximate because the report uses terms such as “around,” “nearly” and “more than.”
| Stock | Reported five-year return | How it compared with the Nifty |
|---|---|---|
| Infosys | Approximately -37% | Underperformed the benchmark by about 60 percentage points |
| Tata Consultancy Services (TCS) | More than -36% | Underperformed the benchmark by more than 59 percentage points |
| Asian Paints | Nearly -29% | Underperformed the benchmark by nearly 52 percentage points |
| Hindustan Unilever | More than -28% | Underperformed the benchmark by more than 51 percentage points |
| HDFC Life Insurance Company | Around -22% | Underperformed the benchmark by about 45 percentage points |
| HDFC Bank | Around -16% | Underperformed the benchmark by about 39 percentage points |
| Reliance Industries | More than -13% | Underperformed the benchmark by more than 36 percentage points |
| Bajaj Finserv | Nearly -7% | Underperformed the benchmark by nearly 30 percentage points |
The comparison is striking because the Nifty 50 rose more than 23% over the same broad five-year window. A stock can therefore post a loss even during a period when the index is positive; index membership does not guarantee outperformance.
What the HDFC Bank figure means
HDFC Bank’s reported five-year decline was about 16% as of October 15, 2026. The same context reported a fall of more than 28% in 2026 so far, more than 27% over one year and over 7% over three years. Those shorter-period figures can change each trading day and should not be read as forecasts.
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Reported explanations for the weakness include governance concerns, leadership exits, margin pressure and foreign-investor selling. Outlook Money also noted that HDFC Bank issued a 1:1 bonus in 2025 and paid annual dividends during the period. These events affect how a return should be calculated and do not, by themselves, establish what the stock will do next.
Why different charts can show different HDFC Bank returns
Price return versus total return
A price-only chart measures the change in the quoted share price. A total-return calculation adds cash dividends and adjusts for stock splits or bonus issues. ReturnScreener says its HDFC Bank five-year calculation uses historical NSE closing prices adjusted for dividends and stock splits, making it a total-return measure.
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Corporate actions and the 2025 bonus
A 1:1 bonus doubles the number of shares while proportionally adjusting the market price. A chart that does not adjust historical prices can make the visual series appear to jump or fall for mechanical reasons. Always confirm whether a data provider has adjusted for the bonus and dividends before comparing its percentage with another provider’s figure.
Start and end dates
“Five years” is not one universal interval. A calculation using October 15, 2021 to October 15, 2026 will differ from one using the nearest prior trading-day closes, a month-end series or an intraday price. Record the exact start date, end date, exchange and currency when checking your own holding.
What may have pressured the eight laggards
The Economic Times report linked the broader market environment to tariff uncertainty, the Middle East war, a falling rupee, rising bond yields and foreign-investor outflows. Company-specific issues matter as well:
- Information technology: Infosys and TCS faced a difficult period for technology-spending expectations and valuation support, reflected in their reported declines.
- Consumer and paint companies: Hindustan Unilever and Asian Paints were among the consumer-facing names that lagged the index during the window.
- Financial services: HDFC Life, HDFC Bank and Bajaj Finserv were affected by changing financial-sector expectations, while HDFC Bank also faced the governance and margin concerns reported above.
- Reliance Industries: Its result reflects the company’s particular mix of businesses and capital-allocation expectations rather than the Nifty’s overall direction.
These are explanations reported around the period, not a prediction that any factor will continue or reverse.
How to check whether you own a laggard
- Download your broker or depository statement and list every Nifty 50 constituent you hold, including shares purchased through systematic plans or transferred between accounts.
- For each stock, record quantity, purchase dates, average cost, dividends received and any bonus or split-adjusted share count.
- Set the comparison window to the same dates used for the market screen—October 15, 2021 through October 15, 2026 is the natural calendar interpretation, but use trading-day closes if your data source requires them.
- Choose a total-return series when evaluating investor wealth. If you use a price-only chart, label it separately rather than mixing the two measures.
- Compare the result with the Nifty 50 total-return benchmark for the identical dates, not merely with the headline index price.
- Review current earnings, margins, governance disclosures, debt, valuation and your own asset-allocation needs before making any decision. A five-year loss alone is not a reason to sell, and a past winner is not automatically safer.
How to interpret a negative five-year return
A negative result means the measured investment value ended below its starting value under the stated methodology. It does not show the path taken: a stock may have fallen steadily, suffered one sharp drawdown or recovered partway from a deeper loss. It also does not account for your personal tax position, transaction costs or the timing of additional purchases unless those are included in your calculation.
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Important limitations and disclaimer
Market prices and index membership change daily, and the eight-stock list is tied to the October 15, 2026 report and its comparison window. Approximate figures should not be treated as a live quote or a precise portfolio statement. Historical returns describe the past and do not predict future returns. The source article states that its writer is not a SEBI-registered Research Analyst or Investment Adviser and advises readers to make decisions based on their own assessment.
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