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Indian (NIFTY) Capital Markets Industry Analysis

UpdatedJul 31, 2026
DataAggregated Company Financials
Companies307
  • 7D-0.9%
  • 3M-0.7%
  • 1Y7.3%
  • YTD6.6%

Over the last 7 days, the Capital Markets industry has remained flat, although notably HDFC Asset Management gained 4.4%. The past year has been better, since the industry has gained 7.3% in that time. Looking forward, 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 31 Jul 2026₹14.0t₹2.1t₹391.2b26x35.9x6.7x
Sun, 28 Jun 2026₹13.3t₹2.0t₹345.3b28.6x38.5x6.6x
Tue, 26 May 2026₹13.6t₹1.8t₹369.6b27.3x36.9x7.6x
Thu, 23 Apr 2026₹13.1t₹1.6t₹350.1b24.3x37.5x8.2x
Sat, 21 Mar 2026₹11.2t₹1.6t₹346.5b23.2x32.2x7x
Mon, 16 Feb 2026₹12.1t₹1.6t₹347.4b23.3x34.8x7.7x
Wed, 14 Jan 2026₹12.0t₹1.4t₹327.8b25.2x36.5x8.5x
Fri, 12 Dec 2025₹10.3t₹1.4t₹301.0b27x34.3x7.6x
Sun, 09 Nov 2025₹9.7t₹1.2t₹286.1b26x33.9x7.8x
Tue, 07 Oct 2025₹9.6t₹1.2t₹293.0b24.6x32.7x7.8x
Thu, 04 Sep 2025₹9.3t₹1.2t₹293.3b22.9x31.7x7.5x
Sat, 02 Aug 2025₹9.0t₹1.2t₹285.0b23.4x31.5x7.6x
Mon, 30 Jun 2025₹9.3t₹1.2t₹282.1b23.9x33x7.9x
Wed, 28 May 2025₹8.7t₹1.2t₹315.5b20.1x27.4x6.9x
Fri, 25 Apr 2025₹8.1t₹1.2t₹307.5b20.1x26.3x6.5x
Sun, 23 Mar 2025₹7.3t₹1.2t₹310.1b19.7x23.4x5.8x
Tue, 18 Feb 2025₹7.2t₹1.2t₹312.6b19.9x23.1x5.8x
Thu, 16 Jan 2025₹8.5t₹1.2t₹344.2b23.4x24.6x6.9x
Sat, 14 Dec 2024₹9.4t₹1.2t₹349.0b24.5x26.8x7.7x
Mon, 11 Nov 2024₹8.8t₹1.2t₹337.2b24.7x26.2x7.3x
Wed, 09 Oct 2024₹8.0t₹1.2t₹331.7b24.2x24x6.8x
Fri, 06 Sep 2024₹8.0t₹1.2t₹333.7b24.2x23.9x6.8x
Sun, 04 Aug 2024₹7.0t₹1.2t₹322.6b24.9x21.8x5.8x
Tue, 02 Jul 2024₹6.9t₹1.2t₹305.1b22.4x22.6x6x
Thu, 30 May 2024₹6.4t₹1.2t₹308.9b21.9x20.7x5.5x
Sat, 27 Apr 2024₹6.6t₹1.1t₹296.5b23.2x22.1x5.8x
Mon, 25 Mar 2024₹5.7t₹1.1t₹301.8b21.4x19x5.2x
Wed, 21 Feb 2024₹6.0t₹1.1t₹296.3b24.2x20.4x5.5x
Fri, 19 Jan 2024₹5.5t₹1.0t₹255.4b24x21.7x5.4x
Sun, 17 Dec 2023₹5.3t₹1.0t₹251.6b21.4x21.2x5.2x
Tue, 14 Nov 2023₹4.8t₹1.1t₹251.9b21.8x19.1x4.5x
Thu, 12 Oct 2023₹4.4t₹1.0t₹227.8b23.5x19.3x4.3x
Sat, 09 Sep 2023₹4.0t₹997.6b₹221.5b24.2x17.9x4x
Mon, 07 Aug 2023₹3.7t₹1.0t₹218.2b23.7x16.7x3.6x
Price to Earnings Ratio

16.7x


Total Market Cap: ₹3.7tTotal Earnings: ₹218.2bTotal Revenue: ₹1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Capital Markets Industry Price to Earnings3Y Average 26.9x202420252026
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 35.9x which is higher than its 3-year average PE of 26.9x.
  • 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 21% 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 Market1.18%
Financials0.80%
Capital Markets-0.93%
Asset Management0.91%
Financial Exchanges and Data-1.09%
Investment Banking and Brokerage-3.91%
Diversified Capital Markets-10.72%
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 55.4x.
    • Analysts are expecting annual earnings growth of 17.0%, 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?

CompanyLast Price7D1YValuation
HDFCAMC HDFC Asset Management₹2.62k4.4%
+₹47.2b		-6.8%PE38x
BSE BSE₹3.65k2.7%
+₹39.4b		51.2%PE59.8x
NAM-INDIA Nippon Life India Asset Management₹1.16k4.4%
+₹31.2b		44.5%PE45.3x
501301 Tata Investment₹679.257.6%
+₹24.2b		0.2%PE79.2x
PRUDENT Prudent Advisory Services₹3.29k15.1%
+₹17.9b		23.3%PE55.6x

Latest News

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Narrative Update • Jul 29

BSE: Elevated P/E Will Outweigh Support From Upcoming Dividend

The analyst price target for BSE has been revised from ₹3,620 to about ₹3,138, with analysts linking this change to updated assumptions on growth, profitability and future P/E levels. What’s in the News for BSE BSE has scheduled a board meeting on June 2, 2026, at 15:45 Indian Standard Time to consider the appointment of Shri Gopalan S.
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Analysis Article • Jul 29

KFin Technologies Limited (NSE:KFINTECH) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

Investors in KFin Technologies Limited ( NSE:KFINTECH ) had a good week, as its shares rose 9.6% to close at ₹974...
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Narrative Update • Jul 28

PRUDENT: Board Actions And AI Tools Will Shape Future Fair Outlook

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Motilal Oswal Financial Services
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NAM-INDIA
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1Y
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Analysis Article • Jul 25

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Nippon Life India Asset Management Limited ( NSE:NAM-INDIA ) investors will be delighted, with the company turning in...
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ANGELONE
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Angel One
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Narrative Update • Jul 24

ANGELONE: Future Margins And Dividend Policy Will Likely Stay Tightly Balanced

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Nuvama Wealth Management
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HDFCAMC
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HDFC Asset Management
7D
4.4%
1Y
-6.8%
Narrative Update • Jul 21

HDFCAMC: Future Returns Will Reflect Stable Margins And Balanced Dividend Support

Analysts have raised their fair value estimate for HDFC Asset Management from ₹2,749 to ₹2,811, citing updated assumptions related to revenue growth, profit margins, discount rates and forward P/E multiples. What's in the News HDFC Asset Management has scheduled a board meeting on July 15, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026.
MCX
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360 One Wam
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ICICIAMC
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ICICI Prudential Asset Management
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Narrative Update • Jun 26

ICICIAMC: Index Additions And Updated Assumptions Will Guide Balanced Outlook

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Dhenu Buildcon Infra
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