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Indian (NIFTY) Market Analysis & Valuation

UpdatedDec 04, 2023
DataAggregated Company Financials
Companies4251
  • 7D2.5%
  • 3M6.1%
  • 1Y14.3%
  • YTD16.7%

The market is up 2.5% in the last 7 days, led by the Financials and all sectors gaining ground. The market is up 14% over the last 12 months. As for the next few years, earnings are expected to grow by 17% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 04 Dec 2023₹340.0t₹153.6t₹14.4t28.3x23.6x2.2x
Wed, 01 Nov 2023₹313.9t₹153.6t₹14.0t27.6x22.5x2x
Fri, 29 Sep 2023₹320.2t₹152.6t₹13.4t27.5x23.8x2.1x
Sun, 27 Aug 2023₹309.8t₹152.6t₹13.4t26.7x23.1x2x
Tue, 25 Jul 2023₹304.7t₹151.1t₹12.6t26.4x24.1x2x
Thu, 22 Jun 2023₹292.4t₹150.3t₹12.5t25.4x23.3x1.9x
Sat, 20 May 2023₹274.6t₹149.2t₹12.6t23x21.8x1.8x
Mon, 17 Apr 2023₹264.1t₹145.3t₹12.2t21.7x21.6x1.8x
Wed, 15 Mar 2023₹254.6t₹145.1t₹12.2t20.7x20.9x1.8x
Fri, 10 Feb 2023₹266.3t₹143.5t₹12.1t21.9x22.1x1.9x
Sun, 08 Jan 2023₹277.5t₹139.3t₹11.9t22.9x23.3x2x
Tue, 06 Dec 2022₹287.9t₹139.1t₹11.9t23x24.2x2.1x
Thu, 03 Nov 2022₹275.2t₹134.5t₹11.8t22.1x23.3x2x
Sat, 01 Oct 2022₹265.1t₹131.2t₹11.9t21.7x22.3x2x
Mon, 29 Aug 2022₹269.8t₹130.9t₹11.8t21x22.8x2.1x
Wed, 27 Jul 2022₹251.3t₹123.9t₹11.5t21.3x21.9x2x
Fri, 24 Jun 2022₹234.1t₹122.1t₹11.4t19.4x20.6x1.9x
Sun, 22 May 2022₹248.4t₹119.1t₹11.3t20.5x22x2.1x
Tue, 19 Apr 2022₹262.2t₹108.3t₹10.6t22x24.8x2.4x
Thu, 17 Mar 2022₹250.1t₹108.4t₹10.6t20.3x23.5x2.3x
Sat, 12 Feb 2022₹257.4t₹106.8t₹10.5t21.6x24.6x2.4x
Mon, 10 Jan 2022₹266.2t₹101.8t₹9.9t22.5x26.9x2.6x
Wed, 08 Dec 2021₹252.1t₹101.7t₹9.9t18.8x25.5x2.5x
Fri, 05 Nov 2021₹259.1t₹100.2t₹9.3t21.1x27.8x2.6x
Sun, 03 Oct 2021₹254.6t₹96.1t₹8.9t21x28.6x2.7x
Tue, 31 Aug 2021₹245.8t₹96.6t₹8.9t19.4x27.6x2.5x
Wed, 07 Jul 2021₹226.0t₹96.3t₹8.9t18.3x25.4x2.3x
Sat, 10 Apr 2021₹200.9t₹87.6t₹7.4t17.2x27.2x2.3x
Fri, 01 Jan 2021₹186.1t₹83.0t₹5.3t17.6x35.3x2.2x
Price to Earnings Ratio

35.8x


Total Market Cap: ₹172.4tTotal Earnings: ₹4.8tTotal Revenue: ₹81.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.2x202120222023
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 25.2x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 44% per year over the last three years.
  • Revenues for these companies have grown 23% 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 Market2.45%
Utilities7.21%
Industrials2.96%
Telecom2.91%
Materials2.47%
Financials2.29%
Real Estate2.18%
Consumer Staples2.15%
Healthcare2.15%
Consumer Discretionary2.08%
Energy1.79%
Tech1.50%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 49.2x.
    • Analysts expect its future annual earnings growth (24.8%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.3x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 3.4% 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
HDFCBANK HDFC Bank₹1.61k5.0%
+₹586.7b
-0.2%PB2.9xFinancials
ICICIBANK ICICI Bank₹991.206.6%
+₹434.9b
6.2%PB3xFinancials
532215 Axis Bank₹1.13k11.7%
+₹364.0b
25.2%PB2.4xFinancials
532454 Bharti Airtel₹1.03k6.1%
+₹358.6b
22.3%PE82.2xTelecom
500510 Larsen & Toubro₹3.31k8.5%
+₹356.9b
58.9%PE37.6xIndustrials
See more
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Market Insights

This week, we’re zooming in on how companies globally fared during the third quarter and what their results mean for the future and valuations...

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512599

₹2,529.30

Adani Enterprises

7D

13.4%

1Y

-35.6%

532454

₹1,032.40

Bharti Airtel

7D

6.1%

1Y

22.3%

HDFCBANK

₹1,609.40

HDFC Bank

7D

5.0%

1Y

-0.2%

ICICIBANK

₹991.20

ICICI Bank

7D

6.6%

1Y

6.2%

PAYTM

₹855.40

One97 Communications

7D

-4.2%

1Y

63.4%

HONASA

₹384.10

Honasa Consumer

7D

-19.2%

1Y

n/a

TIINDIA

₹3,349.00

Tube Investments of India

7D

-3.2%

1Y

13.2%

SBIN

₹594.70

State Bank of India

7D

6.1%

1Y

-3.7%

500510

₹3,313.65

Larsen & Toubro

7D

8.5%

1Y

58.9%

SOLARINDS

₹6,033.10

Solar Industries India

7D

-11.1%

1Y

49.9%

ADANIGREEN

₹1,123.75

Adani Green Energy

7D

19.8%

1Y

-45.0%

500238

₹1,323.55

Whirlpool of India

7D

-15.4%

1Y

-13.5%

533758

₹1,618.50

APL Apollo Tubes

7D

-4.6%

1Y

41.8%

532215

₹1,126.20

Axis Bank

7D

11.7%

1Y

25.2%