Analysis Article • Jul 25
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Indian (NIFTY) Capital Markets Industry Analysis
UpdatedJul 26, 2026
DataAggregated Company Financials
Companies308
- 7D-3.0%
- 3M0.4%
- 1Y6.2%
- YTD7.3%
Over the last 7 days, the Capital Markets industry has dropped 3.0%, driven by declines in HDFC Asset Management and Motilal Oswal Financial Services of 5.5% and 9.8%, respectively. Meanwhile, Nuvama Wealth Management actually outperformed within the industry, gaining 6.3% in the last week. This takes the industry's 12 month performance to a gain of 6.2%. Earnings are forecast to grow by 17% annually.
Industry Valuation and Performance
Has the Indian Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 26 Jul 2026 | ₹14.1t | ₹2.1t | ₹391.5b | 26.5x | 36.1x | 6.7x |
| Tue, 23 Jun 2026 | ₹13.6t | ₹2.0t | ₹345.3b | 28.4x | 39.4x | 6.8x |
| Thu, 21 May 2026 | ₹13.4t | ₹1.8t | ₹367.4b | 27x | 36.6x | 7.5x |
| Sat, 18 Apr 2026 | ₹13.0t | ₹1.6t | ₹349.1b | 24.8x | 37.3x | 8.1x |
| Mon, 16 Mar 2026 | ₹11.2t | ₹1.6t | ₹346.5b | 22.6x | 32.2x | 7x |
| Wed, 11 Feb 2026 | ₹12.3t | ₹1.5t | ₹343.1b | 24.6x | 35.9x | 8.1x |
| Fri, 09 Jan 2026 | ₹12.0t | ₹1.4t | ₹327.5b | 25.8x | 36.7x | 8.5x |
| Sun, 07 Dec 2025 | ₹10.4t | ₹1.4t | ₹301.0b | 27.2x | 34.7x | 7.6x |
| Tue, 04 Nov 2025 | ₹9.7t | ₹1.2t | ₹284.9b | 26.2x | 34.2x | 7.9x |
| Thu, 02 Oct 2025 | ₹9.4t | ₹1.2t | ₹293.0b | 24.7x | 32x | 7.6x |
| Sat, 30 Aug 2025 | ₹9.1t | ₹1.2t | ₹293.3b | 23.1x | 30.9x | 7.3x |
| Mon, 28 Jul 2025 | ₹9.2t | ₹1.2t | ₹285.5b | 24.7x | 32.1x | 7.8x |
| Wed, 25 Jun 2025 | ₹9.2t | ₹1.2t | ₹282.3b | 23.8x | 32.4x | 7.8x |
| Fri, 23 May 2025 | ₹8.5t | ₹1.2t | ₹311.8b | 20.1x | 27.3x | 6.8x |
| Sun, 20 Apr 2025 | ₹7.6t | ₹1.2t | ₹307.2b | 19.3x | 24.8x | 6.1x |
| Tue, 18 Mar 2025 | ₹6.6t | ₹1.2t | ₹310.1b | 18.9x | 21.4x | 5.3x |
| Thu, 13 Feb 2025 | ₹7.5t | ₹1.3t | ₹343.4b | 20.7x | 21.8x | 6x |
| Sat, 11 Jan 2025 | ₹8.4t | ₹1.2t | ₹341.1b | 23.1x | 24.6x | 6.9x |
| Mon, 09 Dec 2024 | ₹9.2t | ₹1.2t | ₹348.8b | 23.9x | 26.3x | 7.5x |
| Wed, 06 Nov 2024 | ₹8.7t | ₹1.2t | ₹336.8b | 25.2x | 25.7x | 7.2x |
| Fri, 04 Oct 2024 | ₹8.0t | ₹1.2t | ₹331.7b | 24.9x | 24.3x | 6.9x |
| Sun, 01 Sep 2024 | ₹7.8t | ₹1.2t | ₹333.6b | 23.6x | 23.2x | 6.7x |
| Tue, 30 Jul 2024 | ₹7.0t | ₹1.2t | ₹320.0b | 23.9x | 21.8x | 5.8x |
| Thu, 27 Jun 2024 | ₹6.7t | ₹1.2t | ₹305.1b | 22.3x | 22.1x | 5.8x |
| Sat, 25 May 2024 | ₹6.4t | ₹1.2t | ₹314.6b | 22.4x | 20.5x | 5.5x |
| Mon, 22 Apr 2024 | ₹6.2t | ₹1.1t | ₹292.4b | 22.8x | 21.3x | 5.5x |
| Wed, 20 Mar 2024 | ₹5.6t | ₹1.1t | ₹301.8b | 21x | 18.5x | 5.1x |
| Fri, 16 Feb 2024 | ₹5.9t | ₹1.1t | ₹295.3b | 24.7x | 20.1x | 5.5x |
| Sun, 14 Jan 2024 | ₹5.7t | ₹1.0t | ₹253.1b | 24.2x | 22.4x | 5.5x |
| Tue, 12 Dec 2023 | ₹5.2t | ₹1.0t | ₹251.6b | 21.7x | 20.8x | 5.1x |
| Thu, 09 Nov 2023 | ₹4.7t | ₹1.1t | ₹248.4b | 23.1x | 18.8x | 4.4x |
| Sat, 07 Oct 2023 | ₹4.3t | ₹1.0t | ₹227.8b | 23.7x | 19x | 4.2x |
| Mon, 04 Sep 2023 | ₹3.8t | ₹997.8b | ₹221.6b | 22.2x | 17.3x | 3.8x |
| Wed, 02 Aug 2023 | ₹3.7t | ₹1.0t | ₹215.7b | 24x | 17.2x | 3.6x |
Price to Earnings Ratio
17.2x
Current Industry PE
- Investors are optimistic on the Indian Capital Markets industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 36.1x which is higher than its 3-year average PE of 26.8x.
- The industry is trading close to its 3-year average PS ratio of 6.5x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have grown 22% per year over the last three years.
- Revenues for these companies have grown 27% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Indian Financials industry?
| IN Market | -1.36% | |
| Financials | -2.76% | |
| Capital Markets | -2.98% | |
| Financial Exchanges and Data | -0.46% | |
| Investment Banking and Brokerage | -1.55% | |
| Asset Management | -3.94% | |
| Diversified Capital Markets | -9.81% | |
Industry PE
- Investors are most optimistic about the Financial Exchanges and Data industry even though it's trading below its 3-year average PE ratio of 55.3x.
- Analysts are expecting annual earnings growth of 16.8%, which is lower than the prior year's growth of 23.1% per year.
- Investors are most pessimistic about the Diversified Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 17.8x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 26% over the next 5 years.
- In contrast, the Asset Management industry is expected to see its earnings grow by 15% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| NUVAMA Nuvama Wealth Management | ₹1.98k | 6.3% +₹21.3b | 34.8% | PE34.7x | |
| CRISIL CRISIL | ₹4.35k | 2.4% +₹7.4b | -21.6% | PE35.9x | |
| SHAREINDIA Share India Securities | ₹191.57 | 8.1% +₹3.1b | 11.3% | PE11.5x | |
| IEX Indian Energy Exchange | ₹124.26 | 1.2% +₹1.3b | -14.3% | PE21.8x | |
| 505725 Algoquant Fintech | ₹68.45 | 5.9% +₹1.1b | 1.2% | PE57.6x |
