Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Market Analysis & Valuation

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies4980
  • 7D0.007%
  • 3M-12.5%
  • 1Y-0.2%
  • YTD-11.8%

The market has stayed flat over the 7 days. In line with that, the market has also been flat over the past 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, 06 Apr 2026₹421.9t₹191.3t₹18.7t20.7x22.5x2.2x
Wed, 04 Mar 2026₹456.1t₹191.0t₹18.7t22x24.4x2.4x
Fri, 30 Jan 2026₹459.8t₹186.9t₹18.4t23.2x25x2.5x
Sun, 28 Dec 2025₹472.9t₹184.3t₹18.2t25.4x25.9x2.6x
Tue, 25 Nov 2025₹462.7t₹173.7t₹17.6t25.8x26.3x2.7x
Thu, 23 Oct 2025₹470.2t₹179.8t₹17.8t27.9x26.4x2.6x
Sat, 20 Sep 2025₹465.0t₹178.0t₹17.6t28.4x26.4x2.6x
Mon, 18 Aug 2025₹444.5t₹177.7t₹17.7t27.3x25.2x2.5x
Wed, 16 Jul 2025₹457.9t₹173.6t₹17.2t30x26.7x2.6x
Fri, 13 Jun 2025₹448.4t₹173.4t₹17.1t29.6x26.1x2.6x
Sun, 11 May 2025₹412.9t₹170.7t₹17.0t25.5x24.3x2.4x
Tue, 08 Apr 2025₹384.8t₹169.0t₹16.8t24.5x22.9x2.3x
Thu, 06 Mar 2025₹388.9t₹169.0t₹16.8t25x23.2x2.3x
Sat, 01 Feb 2025₹419.1t₹163.3t₹16.3t29.3x25.7x2.6x
Mon, 30 Dec 2024₹440.6t₹167.9t₹16.4t32.4x26.9x2.6x
Wed, 27 Nov 2024₹438.7t₹167.5t₹16.3t31.3x26.8x2.6x
Fri, 25 Oct 2024₹439.7t₹164.7t₹16.2t32.6x27.2x2.7x
Sun, 22 Sep 2024₹468.4t₹163.0t₹16.0t34.3x29.3x2.9x
Tue, 20 Aug 2024₹450.3t₹162.7t₹16.0t32.9x28.2x2.8x
Thu, 18 Jul 2024₹453.3t₹160.2t₹15.8t34.1x28.7x2.8x
Sat, 15 Jun 2024₹432.9t₹160.1t₹15.8t32.3x27.4x2.7x
Mon, 13 May 2024₹393.5t₹157.8t₹15.3t30.9x25.6x2.5x
Wed, 10 Apr 2024₹395.5t₹154.9t₹14.8t31.1x26.8x2.6x
Fri, 08 Mar 2024₹386.8t₹154.8t₹14.8t30.5x26.2x2.5x
Sun, 04 Feb 2024₹378.4t₹154.5t₹14.7t31.9x25.7x2.4x
Tue, 02 Jan 2024₹361.3t₹152.3t₹14.2t29.9x25.5x2.4x
Thu, 30 Nov 2023₹329.8t₹152.3t₹14.2t27.9x23.2x2.2x
Sat, 28 Oct 2023₹302.7t₹152.1t₹13.5t27.5x22.4x2x
Mon, 25 Sep 2023₹319.3t₹152.2t₹13.4t27.4x23.8x2.1x
Wed, 23 Aug 2023₹310.4t₹152.2t₹13.4t26.5x23.2x2x
Fri, 21 Jul 2023₹306.2t₹150.6t₹12.5t26.3x24.4x2x
Sun, 18 Jun 2023₹290.0t₹149.9t₹12.5t25.4x23.2x1.9x
Tue, 16 May 2023₹276.0t₹147.5t₹12.3t22.8x22.3x1.9x
Thu, 13 Apr 2023₹263.1t₹144.9t₹12.2t21.7x21.6x1.8x
Price to Earnings Ratio

21.6x


Total Market Cap: ₹263.1tTotal Earnings: ₹12.2tTotal Revenue: ₹144.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.3x202420252026
Current Market PE
  • Investors are pessimistic on the Indian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 22.5x which is lower than its 3-year average PE of 25.3x.
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 9.7% 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 Market0.0067%
Tech2.41%
Materials1.30%
Consumer Staples1.10%
Industrials1.06%
Real Estate0.48%
Energy0.23%
Utilities-0.049%
Consumer Discretionary-0.11%
Financials-1.26%
Telecom-1.92%
Healthcare-2.24%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading close to its 3-year average PE ratio of 39.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.4%, which is higher than its past year's earnings growth of 12.0% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.7x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 6.3% 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₹771.005.4%
+₹607.3b		-12.3%PB2.1xFinancials
SBIN State Bank of India₹1.03k5.4%
+₹492.5b		38.3%PB1.6xFinancials
TCS Tata Consultancy Services₹2.47k4.9%
+₹416.1b		-24.4%PE18.8xTech
DMART Avenue Supermarts₹4.55k15.0%
+₹387.6b		13.1%PE103.6xConsumer Staples
500510 Larsen & Toubro₹3.73k6.4%
+₹308.9b		21.4%PE30xIndustrials
See more

Market Insights

Header cover image
What’s happening with Renewables & EVs?
Richard Bowman avatar
Richard Bowman
Part 1 of 3 in our “What’s happening with…” series, where we look back on the investment themes that were all the rage just a few years ago and see how they're doing now.
Continue reading
How to spot the winners in 2026's IPOs

Latest News

BAJFINANCE
₹850.85
Bajaj Finance
7D
6.2%
1Y
-0.7%
500420
₹4,007.55
Torrent Pharmaceuticals
7D
-5.0%
1Y
24.0%

500420: New Metabolic Franchise And Dividend Plan Will Drive Future Upside

Analysts have lifted their price target on Torrent Pharmaceuticals slightly from about ₹4,499 to around ₹4,527, reflecting updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News Torrent Pharmaceuticals launched its Semaglutide brands Sembolic and Semalix in India, offering both oral and injectable formulations that target metabolic disorders such as type 2 diabetes and obesity (Product announcement).
IPCALAB
₹1,456.00
Ipca Laboratories
7D
-9.1%
1Y
11.9%

IPCALAB: Upcoming Unaudited Results Will Support Bullish View On Steady Fair Value

Analysts have kept their fair value estimate for Ipca Laboratories steady at ₹1,655, reflecting unchanged assumptions around discount rate, revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled for February 13, 2026 to consider and record the standalone unaudited financial results for the third quarter ended December 31, 2025 (Key Developments).
ONGC
₹281.85
Oil and Natural Gas
7D
-1.0%
1Y
28.2%

ONGC: Deepwater Collaboration And Ethane Shipping Are Expected To Support Future Cash Flows

The analyst price target for the Oil and Natural Gas segment has been revised higher to ₹391.17 from ₹363.71. Analysts attribute this change to updated assumptions that reflect slightly lower discount rates, modestly stronger revenue growth expectations, a small adjustment to profit margins and a higher assumed future P/E multiple.
RELIANCE
₹1,304.70
Reliance Industries
7D
-2.9%
1Y
11.9%

RELIANCE: Deepwater Collaboration And Green Ammonia Agreement Will Support Future Earnings Resilience

Analysts made a modest upward revision to their fair value estimate for Reliance Industries, with the price target moving from about ₹1,717 to roughly ₹1,720. This reflects updated assumptions around slightly lower revenue growth, a marginally higher profit margin, and a small adjustment to future P/E expectations.
HDFCBANK
₹771.00
HDFC Bank
7D
5.4%
1Y
-12.3%

HDFCBANK: Governance Resolutions And Leadership Reappointment Will Support Future Share Price Rebound

Analysts have slightly reduced their price target on HDFC Bank, with fair value moving from about ₹1,152.82 to roughly ₹1,137.03, reflecting updated assumptions for revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled for February 3, 2026 to consider the reappointment of Mr. Kaizad Bharucha as Deputy Managing Director for a 3-year term from April 19, 2026 to April 18, 2029 (board meeting agenda).
SUNPHARMA
₹1,694.60
Sun Pharmaceutical Industries
7D
-3.6%
1Y
1.7%

SUNPHARMA: Obesity And Diabetes Launches And Disciplined Mergers Will Guide Balanced Outlook

Analysts have trimmed their price target for Sun Pharmaceutical Industries slightly to around ₹1,961 from about ₹1,976, reflecting updated assumptions that keep revenue growth, profit margin and future P/E expectations broadly similar to prior estimates. What's in the News Launch of semaglutide injections Noveltreat and Sematrinity in India for chronic weight management and type 2 diabetes, with weekly therapy costs reported in the INR 750 to INR 2,000 range to support affordability across multiple dose strengths (Key Developments).
532215
₹1,245.35
Axis Bank
7D
7.2%
1Y
18.7%

532215: Preferred EV Financing Partnership Will Support Medium Term Upside

Analysts have made a small trim to the Axis Bank fair value estimate, with the price target moving from about ₹1,499.70 to roughly ₹1,496.18 as they refresh assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Axis Bank has been named a preferred financing partner for Tesla in India, offering loan tenures of up to 10 years for premium electric vehicles, with end to end digital loan processing and no paperwork for buyers.
SBIN
₹1,032.75
State Bank of India
7D
5.4%
1Y
38.3%

SBIN: Upcoming Shareholder Meetings Will Strengthen Governance And Support Bullish Outlook

Analysts have inched their fair value estimate for State Bank of India slightly lower from about ₹1,207.82 to around ₹1,207.05, reflecting modest tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E rather than any major shift in the core outlook. What's in the News Board meeting scheduled for Feb 07, 2026 at 10:00 Indian Standard Time to consider financial results for the quarter ended Dec 31, 2025 and review related regulatory disclosures, including security cover certificates on non convertible debt securities and statements of deviation or variation under SEBI LODR regulations (Company event filing).
TCS
₹2,473.90
Tata Consultancy Services
7D
4.9%
1Y
-24.4%

TCS: AI Collaborations And Special Dividend Will Support Future Upside

Analysts have reduced their price target for Tata Consultancy Services by about ₹100 to reflect slightly softer revenue growth expectations, a marginally lower discount rate, and a small uplift in projected profit margins and future P/E multiples. What's in the News TCS declared a special dividend of ₹46 per equity share, with a record date of January 17, 2026, and dividend payout scheduled for February 3, 2026.
500510
₹3,728.85
Larsen & Toubro
7D
6.4%
1Y
21.4%

500510: New Infrastructure And AI Factory Orders Will Drive Future Upside

The analyst price target for Larsen & Toubro has been adjusted slightly lower from ₹4,604 to ₹4,544 as analysts factor in modest changes to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News L&T is part of a Deed of Novation with Malaysia Marine and Heavy Engineering and TenneT for offshore substation subcontracts, with the scope revised to exclude one topside while keeping Malaysia Marine and Heavy Engineering responsible for its existing obligations (Client announcement, Mar 4, 2026).
NTPC
₹366.10
NTPC
7D
-1.2%
1Y
4.7%

NTPC: Dividend Strength And Gasification Projects Will Support Long Term Appeal

Analysts have lifted their price target for NTPC from ₹413.28 to ₹424.46, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What's in the News NTPC signed an MoU with Gujarat Mineral Development Corporation to explore coal and lignite gasification projects in Odisha and Gujarat.
500114
₹4,244.40
Titan
7D
7.4%
1Y
40.4%

500114: Upcoming Board Decisions Will Shape Confidence In Future Returns

Analysts have nudged their price target for Titan slightly lower to around ₹4,794 from about ₹4,806, citing a small adjustment to fair value assumptions and a marginally lower discount rate, while keeping revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Titan has scheduled a Special or Extraordinary Shareholders Meeting on Mar 23, 2026, via postal ballot in India to consider the appointment of Ms. Sandhya Venugopal Sharma as a Director (Key Developments).
HYUNDAI
₹1,691.40
Hyundai Motor India
7D
-4.9%
1Y
6.8%

SUV Demand, Export Expansion And Capacity Investments Will Support Long Term Upside

Catalysts About Hyundai Motor India Hyundai Motor India manufactures and sells passenger vehicles in India and exports vehicles to multiple emerging markets. What are the underlying business or industry changes driving this perspective?
LGEINDIA
₹1,379.70
LG Electronics India
7D
-4.3%
1Y
n/a
DMART
₹4,551.30
Avenue Supermarts
7D
15.0%
1Y
13.1%

Avenue Supermarts (NSE:DMART) Is Experiencing Growth In Returns On Capital

Jan 26
Avenue Supermarts (NSE:DMART) Is Experiencing Growth In Returns On Capital