Indian benchmark indices are heading for their weakest nine-month performance in 15 years. The BSE Sensex has fallen about 15 per cent in the first nine months of 2026, while the Nifty 50 has declined around 13 per cent, according to market data.

The last time the benchmarks fell harder in the January-September period was in 2011, when the Sensex dropped 19.8 per cent and the Nifty lost 18.9 per cent. Both indices now sit just above their 52-week lows hit on March 30.

Foreign portfolio investors have pulled about Rs 2.5 lakh crore ($26.75 billion) from Indian equities this year, NSDL data shows. Domestic institutional investors bought about Rs 6.28 lakh crore over the same period, cushioning the fall but not offsetting pressure on heavyweight stocks.

Brent crude near $108 a barrel, a rupee close to 96 per dollar and US 10-year yields above 5 per cent remain the pressure points, analysts say. Small-caps, up 8.35 per cent, have outperformed the benchmarks.

The sell-off reflects global headwinds rather than a domestic economic shock, with large-cap IT and FMCG stocks among the hardest hit.