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Indian (NIFTY) Market Analysis & Valuation

UpdatedMay 17, 2026
DataAggregated Company Financials
Companies5001
  • 7D-2.8%
  • 3M-1.7%
  • 1Y-1.2%
  • YTD-4.2%

Over the last 7 days, the market has dropped 2.8%, driven by a decline of 3.3% in the Financials sector. Overall the market has been flat in the last year. Looking forward, earnings are forecast to grow by 17% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Indian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 18 May 2026₹459.9t₹195.2t₹19.3t23.3x23.8x2.4x
Wed, 15 Apr 2026₹448.6t₹191.4t₹18.7t22.4x23.9x2.3x
Fri, 13 Mar 2026₹439.7t₹191.1t₹18.7t21.6x23.5x2.3x
Sun, 08 Feb 2026₹467.0t₹188.2t₹18.8t23.5x24.8x2.5x
Tue, 06 Jan 2026₹480.2t₹184.3t₹18.2t25.6x26.3x2.6x
Thu, 04 Dec 2025₹468.5t₹184.0t₹18.2t25.9x25.7x2.5x
Sat, 01 Nov 2025₹469.6t₹180.2t₹18.0t28x26.1x2.6x
Mon, 29 Sep 2025₹449.8t₹178.7t₹17.6t27.5x25.5x2.5x
Wed, 27 Aug 2025₹448.6t₹177.8t₹17.6t27.7x25.5x2.5x
Fri, 25 Jul 2025₹456.1t₹174.3t₹17.4t29.7x26.2x2.6x
Sun, 22 Jun 2025₹446.1t₹173.3t₹17.1t29x26x2.6x
Tue, 20 May 2025₹439.8t₹171.4t₹17.0t27.6x25.9x2.6x
Thu, 17 Apr 2025₹410.4t₹169.0t₹16.8t26.4x24.5x2.4x
Sat, 15 Mar 2025₹387.1t₹169.0t₹16.8t24.8x23.1x2.3x
Mon, 10 Feb 2025₹418.8t₹164.0t₹16.6t29.3x25.2x2.6x
Wed, 08 Jan 2025₹439.7t₹167.9t₹16.4t32.3x26.9x2.6x
Fri, 06 Dec 2024₹457.4t₹167.6t₹16.4t32.6x28x2.7x
Sun, 03 Nov 2024₹446.2t₹166.4t₹16.1t33.3x27.7x2.7x
Tue, 01 Oct 2024₹470.8t₹163.0t₹16.0t34.3x29.4x2.9x
Thu, 29 Aug 2024₹459.0t₹162.8t₹16.0t34.6x28.7x2.8x
Sat, 27 Jul 2024₹454.8t₹161.6t₹15.9t34.5x28.7x2.8x
Mon, 24 Jun 2024₹432.6t₹160.1t₹15.8t32.4x27.4x2.7x
Wed, 22 May 2024₹410.8t₹163.3t₹16.4t31.3x25.1x2.5x
Fri, 19 Apr 2024₹388.5t₹155.2t₹14.8t30.8x26.2x2.5x
Sun, 17 Mar 2024₹374.1t₹154.8t₹14.8t28.5x25.3x2.4x
Tue, 13 Feb 2024₹374.0t₹154.7t₹14.7t31.3x25.4x2.4x
Thu, 11 Jan 2024₹364.4t₹152.4t₹14.2t31.3x25.7x2.4x
Sat, 09 Dec 2023₹345.5t₹152.2t₹14.1t28.7x24.4x2.3x
Mon, 06 Nov 2023₹311.7t₹152.2t₹13.9t27.7x22.4x2x
Wed, 04 Oct 2023₹320.4t₹152.3t₹13.4t27.8x23.9x2.1x
Fri, 01 Sep 2023₹311.1t₹152.3t₹13.4t27.3x23.2x2x
Sun, 30 Jul 2023₹306.2t₹151.5t₹12.9t26.6x23.7x2x
Tue, 27 Jun 2023₹287.9t₹149.9t₹12.5t25.2x23x1.9x
Thu, 25 May 2023₹276.9t₹149.9t₹12.6t23x22x1.8x
Price to Earnings Ratio

22x


Total Market Cap: ₹276.9tTotal Earnings: ₹12.6tTotal Revenue: ₹149.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Indian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 25.4x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 15% per year over the last three years.
  • Revenues for these companies have grown 9.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Indian Market?

IN Market-2.79%
Telecom2.69%
Healthcare1.06%
Materials-1.09%
Consumer Staples-1.32%
Utilities-2.87%
Financials-3.33%
Industrials-3.55%
Consumer Discretionary-4.01%
Energy-4.01%
Tech-5.59%
Real Estate-6.09%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 24.3%, which is higher than its past year's earnings growth of 13.6% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.6x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 28% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Energy sector is expected to see its earnings grow by 6.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
532454 Bharti Airtel₹1.90k3.8%
+₹424.5b		5.0%PE43.5xTelecom
512599 Adani Enterprises₹2.72k8.4%
+₹273.7b		6.3%PE37.9xIndustrials
ONGC Oil and Natural Gas₹299.357.2%
+₹253.5b		21.1%PE9.9xEnergy
IDEA Vodafone Idea₹12.9515.2%
+₹185.3b		75.7%PE4.1xTelecom
VEDL Vedanta₹331.0511.7%
+₹135.1b		-25.0%PE27.1xMaterials
See more

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1Y
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1Y
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1Y
-0.4%
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M&M: Defence And Farm Alliances Will Drive Next Upside Phase

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SBIN
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State Bank of India
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1Y
21.6%
INFY
₹1,119.00
Infosys
7D
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1Y
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BAJFINANCE
₹910.45
Bajaj Finance
7D
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1Y
-0.7%
Analysis Article • May 15

Here's Why We Think Bajaj Finance (NSE:BAJFINANCE) Is Well Worth Watching

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Bharti Airtel
7D
3.8%
1Y
5.0%
OIL
₹518.30
Oil India
7D
14.1%
1Y
22.3%
ADANIPORTS
₹1,795.10
Adani Ports and Special Economic Zone
7D
2.0%
1Y
27.5%
Narrative Update • May 11

ADANIPORTS: Earnings Guidance And Dividend Will Support Future Earnings

Analysts have lifted their price target on Adani Ports and Special Economic Zone by about ₹56 per share, citing updated assumptions that include a slightly lower discount rate, modestly adjusted revenue growth expectations, a small improvement in projected profit margins, and a higher future P/E multiple. What's in the News Adani Ports and Special Economic Zone issued earnings guidance for fiscal 2027, with revenue expected in the range of ₹430,000 million to ₹450,000 million.
500114
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Titan
7D
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1Y
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ONGC
₹299.35
Oil and Natural Gas
7D
7.2%
1Y
21.1%
VEDL
₹331.05
Vedanta
7D
11.7%
1Y
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Analysis Article • May 08

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RELIANCE
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Reliance Industries
7D
-6.9%
1Y
-8.2%
Narrative Update • May 03

RELIANCE: Long Term Green Ammonia Offtake Is Expected To Support Earnings

Analysts have revised the fair value estimate for Reliance Industries to ₹1,696.63 from ₹1,732.03, reflecting updated assumptions for revenue growth, profit margins, and a higher future P/E multiple. Analyst Commentary Recent Street research on comparable large caps points to a pattern that can be useful when thinking about Reliance Industries, especially around how valuation targets move as execution and growth assumptions are refreshed.
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Adani Enterprises
7D
8.4%
1Y
6.3%