Short answer: Asian Paints is reported to have lost nearly 29% over the five-year period covered by an Economic Times slideshow dated October 15, 2026. A separate Upstox measurement puts its five-year loss at 13.3%. The different figures reflect different observation dates or return methods. Upstox also identifies six other declining Nifty constituents: HDFC Bank, TCS, Infosys, Wipro, Hindustan Unilever and HDFC Life. The Economic Times item says there were eight stocks, but the eighth name is not available in the published extract, so it should not be guessed.
Which Nifty stocks were down over five years?
Upstox’s five-year table lists seven Nifty stocks with negative returns while stating that the Nifty 50 gained more than 50% over its corresponding period.
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| Stock | Five-year return in Upstox table | Important qualification |
|---|---|---|
| Wipro | -42.7% | Upstox window; return type and exact observation dates should be checked in the original data. |
| TCS | -36.7% | Upstox window. |
| Infosys | -34.3% | Upstox window. |
| Hindustan Unilever | -22.9% | Upstox window. |
| HDFC Life | -17.6% | Upstox window. |
| Asian Paints | -13.3% | Upstox window; this is not the same percentage as the Economic Times figure. |
| HDFC Bank | -6.4% | Upstox window. |
The Economic Times slideshow, dated October 15, 2026, describes eight Nifty stocks with negative five-year returns and reports Asian Paints at nearly -29% for its article period. Its available extract does not identify the eighth stock. Treating the Upstox seven-stock table as the complete eight-stock list would therefore be inaccurate.
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How much has Asian Paints fallen?
There are two published numbers, and both need their source and window attached:
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- Nearly 29% over five years: reported in the Economic Times item dated October 15, 2026.
- 13.3% over five years: reported by Upstox for a separate five-year window.
- Nearly 26% over three years: reported in the same Economic Times extract.
- 15% negative in 2026 so far: also reported by Economic Times as of the article period on October 15, 2026.
These percentages cannot be averaged or treated as contradictory performance records. A return changes when the start date, end date, closing-price snapshot, dividend treatment and corporate-action adjustments change. Before comparing the figures, record the exact dates and determine whether each is a price return or a total return.
Why can a stock lose money while the Nifty 50 rises?
An index return is an aggregate result, not a guarantee for every constituent. The Nifty 50 combines companies from different industries and weights them differently. Strong performance in some sectors or large constituents can outweigh declines in other members. Upstox’s statement that the Nifty 50 gained more than 50% applies only to its stated five-year period and does not describe every stock in the index.
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Company-specific performance
A company can underperform because of weaker earnings, margin pressure, expensive valuation at the starting point, slower demand, management decisions or a sector downturn. Those factors can affect an individual share even while unrelated parts of the index are advancing.
Benchmark and holding are different measurements
Comparing your holding with the Nifty 50 requires the same dates and a clear return definition. A stock’s percentage loss is not directly comparable with an index’s percentage gain if one series includes dividends, uses adjusted prices or starts on a different trading day.
What bonus issues and the 10:1 split mean for long-term comparisons
Asian Paints investor materials discuss bonus issues and a 10:1 stock split, and show monthly share-price movement alongside the BSE Sensex and NSE Nifty 50. A split changes the quoted per-share price but not the economic value of an investor’s holding at the time of the action. Bonus shares similarly change the number of shares and the appropriate historical price series.
For a five-year chart or calculation, use a series adjusted for the relevant corporate actions. Otherwise, an unadjusted old price can make a gain or loss appear larger or smaller than it was. Also establish whether dividends are included: a price-return series measures only share-price movement, while a total-return series assumes distributions are reinvested.
How to check whether you own one of these stocks
- Open your latest demat or brokerage holdings statement and export the current holdings list.
- Search for the seven names in the Upstox table: HDFC Bank, Asian Paints, TCS, Infosys, Wipro, Hindustan Unilever and HDFC Life.
- Do not mark the portfolio as complete until the unidentified eighth stock in the Economic Times list is verified from the original slideshow.
- For each match, note the quantity, average purchase price, current value, purchase dates and dividends received.
- Compare each holding with the Nifty 50 over the same dates, using either price return for both or total return for both.
- Check whether the data provider adjusted historical prices for Asian Paints’ bonus issues and 10:1 split.
How to review a negative five-year position
Separate loss size from annualized performance
A cumulative loss, such as -29%, describes the change between two points. An annualized return describes the equivalent yearly rate and requires exact start and end dates. Do not calculate a five-year annualized figure from a rounded “nearly” percentage without confirming the underlying prices.
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Record how much of the portfolio is exposed to information technology, consumer products, financial services or other sectors represented in the list. Several declining holdings can indicate a concentrated sector bet rather than a broad-market outcome.
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Investigate the business before acting
Review recent earnings, debt, cash flow, competitive position and valuation, then decide whether the original investment case still applies. A past loss alone is not a buy, sell or hold signal.
What this list does—and does not—prove
The figures show that selected Nifty constituents underperformed during particular five-year windows. They do not establish the complete Economic Times list from the available extract, predict future returns or prove that every investor should exit a losing position. The useful action is a date-matched, corporate-action-adjusted portfolio review against the appropriate benchmark.
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