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

Indian (NIFTY) Market Analysis & Valuation

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies5063
  • 7D0.9%
  • 3M12.3%
  • 1Y-1.3%
  • YTD-0.9%

In the last week, the market has stayed flat, however the Real Estate sector stood out, gaining 4.1%. As for the longer term, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026₹475.6t₹197.4t₹19.5t23.9x24.4x2.4x
Sun, 31 May 2026₹464.0t₹196.7t₹19.5t23.4x23.8x2.4x
Tue, 28 Apr 2026₹466.7t₹192.2t₹18.9t23.9x24.7x2.4x
Thu, 26 Mar 2026₹430.5t₹191.2t₹18.7t20.9x23x2.3x
Sat, 21 Feb 2026₹466.6t₹191.0t₹18.7t23.1x25x2.4x
Mon, 19 Jan 2026₹468.0t₹185.4t₹18.2t24.3x25.7x2.5x
Wed, 17 Dec 2025₹466.7t₹184.2t₹18.2t25.5x25.6x2.5x
Fri, 14 Nov 2025₹467.1t₹173.1t₹17.6t27.1x26.5x2.7x
Sun, 12 Oct 2025₹462.7t₹179.1t₹17.7t27.7x26.2x2.6x
Tue, 09 Sep 2025₹451.7t₹177.8t₹17.6t27.9x25.7x2.5x
Thu, 07 Aug 2025₹606.1t₹176.6t₹17.4t28.3x34.7x3.4x
Sat, 05 Jul 2025₹459.3t₹173.4t₹17.2t29.9x26.8x2.6x
Mon, 02 Jun 2025₹443.1t₹173.6t₹17.1t28.4x25.8x2.6x
Wed, 30 Apr 2025₹422.9t₹169.8t₹16.8t26.6x25.1x2.5x
Fri, 28 Mar 2025₹407.5t₹169.0t₹16.8t25.1x24.3x2.4x
Sun, 23 Feb 2025₹398.5t₹169.0t₹16.8t26.5x23.8x2.4x
Tue, 21 Jan 2025₹429.4t₹167.8t₹16.4t31.5x26.1x2.6x
Thu, 19 Dec 2024₹450.9t₹167.7t₹16.4t32.8x27.6x2.7x
Sat, 16 Nov 2024₹428.8t₹167.1t₹16.3t31.2x26.3x2.6x
Mon, 14 Oct 2024₹459.5t₹163.1t₹16.0t33.7x28.7x2.8x
Wed, 11 Sep 2024₹459.9t₹162.8t₹16.0t34.3x28.8x2.8x
Fri, 09 Aug 2024₹442.1t₹162.2t₹15.8t33.8x28x2.7x
Sun, 07 Jul 2024₹447.9t₹160.1t₹15.8t34.4x28.4x2.8x
Tue, 04 Jun 2024₹423.9t₹165.5t₹16.6t30.2x25.5x2.6x
Thu, 02 May 2024₹403.4t₹156.9t₹15.1t31.7x26.8x2.6x
Sat, 30 Mar 2024₹382.6t₹154.9t₹14.8t28.7x25.9x2.5x
Mon, 26 Feb 2024₹388.2t₹154.8t₹14.8t32x26.3x2.5x
Wed, 24 Jan 2024₹361.8t₹153.3t₹14.3t30.8x25.2x2.4x
Fri, 22 Dec 2023₹350.0t₹152.3t₹14.2t29.1x24.7x2.3x
Sun, 19 Nov 2023₹323.9t₹152.2t₹14.2t27.7x22.8x2.1x
Tue, 17 Oct 2023₹318.2t₹151.3t₹13.2t28.4x24.2x2.1x
Thu, 14 Sep 2023₹321.7t₹152.3t₹13.4t27.5x24x2.1x
Sat, 12 Aug 2023₹306.8t₹194.4t-₹13,301,288,885,348.0026.7x-23.1x1.6x
Mon, 10 Jul 2023₹296.9t₹150.0t₹12.5t26x23.8x2x
Price to Earnings Ratio

23.8x


Total Market Cap: ₹296.9tTotal Earnings: ₹12.5tTotal Revenue: ₹150.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.5x202420252026
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 25.5x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 16% per year over the last three years.
  • Revenues for these companies have grown 9.6% 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 Market0.87%
Real Estate4.13%
Consumer Discretionary1.99%
Healthcare1.80%
Consumer Staples1.31%
Telecom0.93%
Materials0.86%
Financials0.83%
Industrials0.54%
Utilities0.40%
Energy-0.39%
Tech-1.20%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.6%, which is higher than its past year's earnings growth of 15.4% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 5.8% 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₹1.91k3.2%
+₹365.1b		-5.3%PE43.6xTelecom
BAJFINANCE Bajaj Finance₹1.03k5.2%
+₹316.4b		11.5%PE33.6xFinancials
ETERNAL Eternal₹281.6510.4%
+₹243.5b		7.7%PE707.2xConsumer Discretionary
512599 Adani Enterprises₹3.21k5.7%
+₹226.5b		23.6%PE45.3xIndustrials
BAJAJFINSV Bajaj Finserv₹1.90k7.4%
+₹208.8b		-5.0%PE30.8xFinancials
See more

Market Insights

Header cover image
Markets are supposed to reprice risk when it changes. This time they've repriced the promise, but left the threat largely untouched. Whether that's an oversight or a fair call is worth thinking through.
Continue reading
Finding dividends that actually last

Latest News

512599
₹3,212.20
Adani Enterprises
7D
5.7%
1Y
23.6%
DMART
₹3,994.40
Avenue Supermarts
7D
-7.0%
1Y
-6.3%
ADANIPORTS
₹1,874.20
Adani Ports and Special Economic Zone
7D
4.4%
1Y
31.6%
ICICIBANK
₹1,411.40
ICICI Bank
7D
1.7%
1Y
-2.2%
POWERINDIA
₹31,040.00
Hitachi Energy India
7D
-8.6%
1Y
55.5%
Narrative Update • Jun 30

POWERINDIA: Large Grid Project Wins And Rich P E Will Shape Expectations

Analysts have nudged their price target on Hitachi Energy India higher to about ₹33,321 from roughly ₹30,968. This reflects updated assumptions around revenue growth, profit margin and future P/E, as well as a slightly lower discount rate in their models.
ETERNAL
₹281.65
Eternal
7D
10.4%
1Y
7.7%
Narrative Update • Jun 30

ETERNAL: Asset Transfer Plans Will Reinforce Concerns Over Stretch P/E Assumptions

Analysts have revised their price target for Eternal to ₹226.96 from ₹241.40. This reflects updated views on revenue growth potential, profit margins and a lower assumed future P/E multiple.
ADANIPOWER
₹221.79
Adani Power
7D
-3.3%
1Y
89.6%
532454
₹1,910.10
Bharti Airtel
7D
3.2%
1Y
-5.3%
Narrative Update • Jun 24

532454: Remote Connectivity Rollout Will Drive Future Upside

Analysts have slightly reduced their Bharti Airtel fair value estimate from ₹2,293.94 to ₹2,290.79, reflecting marginally softer assumptions on revenue growth, profit margins, and future P/E levels in their price targets. What's in the News Bharti Airtel completed Phase 1 of a project with the Indian Army’s 4 Corps at Tezpur, becoming the first service provider to offer mobile connectivity across 30 remote, high altitude Army stations in Arunachal Pradesh, with Phase 2 planned for 15 additional locations.
500510
₹4,026.80
Larsen & Toubro
7D
-4.6%
1Y
12.1%
Narrative Update • Jun 23

500510: Defence Energy And Electronics Orders Will Support Measured Future Earnings Potential

Analysts have modestly raised their price target for Larsen & Toubro to ₹4,513.81 from ₹4,498, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions in their models. What’s in the News for Larsen & Toubro Larsen & Toubro entered a collaboration with Exail to supply an Unmanned Mine Counter Measure Suite for the Indian Navy’s planned 12 Mine Counter Measure Vessels.
BAJAJFINSV
₹1,895.60
Bajaj Finserv
7D
7.4%
1Y
-5.0%
Narrative Update • Jun 23

BAJAJFINSV: Centenary Dividend And Stable Assumptions Will Support Measured Future Returns

Analysts now see Bajaj Finserv’s fair value holding steady at about ₹1,688, with only small tweaks to the discount rate, revenue growth assumptions, profit margin, and future P/E feeding into a largely unchanged price target narrative. What's in the News for Bajaj Finserv The Board of Directors of Bajaj Finserv met on April 30, 2026 to consider and approve standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026, recommend a dividend on equity shares for the year, and consider the reappointment of statutory auditors.
BAJFINANCE
₹1,031.40
Bajaj Finance
7D
5.2%
1Y
11.5%
Narrative Update • Jun 23

BAJFINANCE: Dividend Moves And Slight Assumption Shifts Will Shape Future Returns

The latest narrative update for Bajaj Finance reflects a modest upward revision in the analyst fair value estimate to ₹1,063.86 from ₹1,059.09, as analysts adjust their assumptions around the discount rate, revenue growth, profit margin and future P/E to align with recent research inputs. What's in the News Bajaj Finance has proposed a special dividend of ₹0.60 per equity share, linked to the exceptional gain on the sale of Bajaj Housing Finance Limited shares for the financial year ended 31 March 2026, with the proposal scheduled for approval at the AGM on 30 July 2026.
MARUTI
₹14,366.00
Maruti Suzuki India
7D
4.5%
1Y
13.6%
Narrative Update • Jun 22

MARUTI: Gujarat Capacity Expansion And Land Purchase Will Support Future Upside

Analysts have trimmed their fair value estimate for Maruti Suzuki India slightly to ₹15,794 from about ₹15,840, reflecting small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Maruti Suzuki India announced an annual dividend of ₹140.00 per share, with an ex-date and record date of August 7, 2026, and a scheduled payment date of September 9, 2026.
522275
₹4,394.05
GE Vernova T&D India
7D
-12.8%
1Y
86.7%
Narrative Update • Jun 22

522275: Higher Future P/E Assumptions Will Likely Pressure Stretched Earnings Multiple

Analysts have raised their fair value estimate for GE Vernova T&D India to ₹3,337.85 from ₹3,268.00, citing updated assumptions for revenue growth, discount rate, profit margin and future P/E that remain broadly in line with prior expectations. What’s in the News for GE Vernova T&D India A board meeting is scheduled for May 18, 2026 to consider and approve audited financial results for the year and quarter ended March 31, 2026, and to consider a dividend recommendation, if any.
ENRIN
₹3,281.50
Siemens Energy India
7D
-11.0%
1Y
13.4%
Analysis Article • Jun 19

Siemens Energy India (NSE:ENRIN) Ticks All The Boxes When It Comes To Earnings Growth

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
BANKBARODA
₹252.20
Bank of Baroda
7D
-9.7%
1Y
4.7%
Narrative Update • Jun 17

BANKBARODA: Dividend Payout And Bond Issuance Plan Will Shape Stock Outlook

The analyst price target for Bank of Baroda has been adjusted slightly to ₹311.47 from ₹311.35, reflecting updated views on discount rate, revenue growth, profit margin, and future P/E assumptions cited by analysts. What’s in the News for Bank of Baroda Bank of Baroda announced an annual dividend of ₹8.50 per share, payable on July 23, 2026, with ex-date and record date on June 5, 2026.
RELIANCE
₹1,304.00
Reliance Industries
7D
-1.1%
1Y
-14.6%
Narrative Update • Jun 17

RELIANCE: Green Ammonia Agreement Will Support Future Stock Earnings Visibility

Analysts have nudged their fair value estimate for Reliance Industries slightly higher to about ₹1,699 from roughly ₹1,696, citing updated assumptions for revenue growth, profit margins and future P/E. These changes reflect a more constructive long term earnings outlook, while the discount rate remains unchanged.