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Indian (NIFTY) Market Analysis & Valuation

UpdatedAug 22, 2026
DataAggregated Company Financials
Companies5113
  • 7D-0.2%
  • 3M4.3%
  • 1Y2.4%
  • YTD0.6%

The market has stayed flat over the 7 days. As for the longer term, the market has also been flat over the past year. As for the next few years, earnings are expected to grow by 17% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 22 Aug 2026₹485.3t₹207.0t₹20.1t22.3x24.2x2.3x
Mon, 20 Jul 2026₹476.5t₹198.9t₹19.7t23.7x24.2x2.4x
Wed, 17 Jun 2026₹470.2t₹197.4t₹19.5t23.6x24.1x2.4x
Fri, 15 May 2026₹461.7t₹195.3t₹19.1t23.5x24.2x2.4x
Sun, 12 Apr 2026₹451.0t₹191.4t₹18.7t22.4x24.1x2.4x
Tue, 10 Mar 2026₹440.4t₹191.1t₹18.7t21.3x23.6x2.3x
Thu, 05 Feb 2026₹468.8t₹187.5t₹18.5t23.8x25.3x2.5x
Sat, 03 Jan 2026₹480.8t₹184.3t₹18.2t25.6x26.4x2.6x
Mon, 01 Dec 2025₹473.4t₹184.0t₹18.1t26.1x26.1x2.6x
Wed, 29 Oct 2025₹470.4t₹179.7t₹17.9t27.8x26.3x2.6x
Fri, 26 Sep 2025₹457.1t₹178.7t₹17.6t27.9x25.9x2.6x
Sun, 24 Aug 2025₹452.3t₹177.7t₹17.7t28x25.6x2.5x
Tue, 22 Jul 2025₹457.3t₹173.6t₹17.2t30x26.6x2.6x
Thu, 19 Jun 2025₹444.6t₹173.3t₹17.1t29.3x26x2.6x
Sat, 17 May 2025₹439.0t₹171.0t₹17.0t27.4x25.9x2.6x
Mon, 14 Apr 2025₹398.2t₹169.0t₹16.8t25.4x23.7x2.4x
Wed, 12 Mar 2025₹390.1t₹169.1t₹16.8t25.2x23.2x2.3x
Fri, 07 Feb 2025₹419.8t₹163.7t₹16.4t29.3x25.5x2.6x
Sun, 05 Jan 2025₹447.8t₹167.9t₹16.4t32.9x27.3x2.7x
Tue, 03 Dec 2024₹447.6t₹167.6t₹16.3t32x27.4x2.7x
Thu, 31 Oct 2024₹443.1t₹166.2t₹16.1t32.2x27.5x2.7x
Sat, 28 Sep 2024₹474.6t₹163.0t₹16.0t34.1x29.7x2.9x
Mon, 26 Aug 2024₹455.9t₹162.8t₹16.0t33.9x28.6x2.8x
Wed, 24 Jul 2024₹444.4t₹161.1t₹15.8t33.6x28.1x2.8x
Fri, 21 Jun 2024₹432.7t₹160.1t₹15.8t32.4x27.4x2.7x
Sun, 19 May 2024₹406.8t₹157.9t₹15.4t31.7x26.4x2.6x
Tue, 16 Apr 2024₹390.0t₹155.1t₹14.8t30.5x26.4x2.5x
Thu, 14 Mar 2024₹367.9t₹154.8t₹14.8t27.7x24.9x2.4x
Sat, 10 Feb 2024₹381.5t₹154.6t₹14.7t32.1x25.9x2.5x
Mon, 08 Jan 2024₹365.0t₹152.3t₹14.2t30.5x25.8x2.4x
Wed, 06 Dec 2023₹342.8t₹152.1t₹14.1t28.5x24.3x2.3x
Fri, 03 Nov 2023₹310.0t₹151.8t₹13.9t27.7x22.4x2x
Sun, 01 Oct 2023₹320.4t₹152.3t₹13.4t27.6x23.9x2.1x
Tue, 29 Aug 2023₹309.9t₹152.3t₹13.4t26.7x23.2x2x
Price to Earnings Ratio

23.2x


Total Market Cap: ₹309.9tTotal Earnings: ₹13.4tTotal Revenue: ₹152.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.6x202420252026
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 25.6x.
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 11% 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 Market-0.20%
Real Estate0.69%
Financials0.52%
Materials0.48%
Consumer Discretionary0.34%
Energy0.32%
Healthcare-0.43%
Industrials-0.55%
Utilities-0.96%
Consumer Staples-1.60%
Telecom-1.69%
Tech-1.97%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.3x.
    • 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 19.3% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 28% 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 11% 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
500188 Hindustan Zinc₹594.805.9%
+₹139.0b		40.0%PE14.7xMaterials
532144 Welspun₹2.31k23.1%
+₹114.4b		159.0%PE26.3xMaterials
LICI Life Insurance Corporation of India₹422.252.1%
+₹110.7b		-5.0%PE8.2xFinancials
500247 Kotak Mahindra Bank₹402.802.5%
+₹97.5b		1.4%PB2.2xFinancials
532215 Axis Bank₹1.25k2.4%
+₹89.9b		16.4%PB1.7xFinancials
See more

Market Insights

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Latest News

ETERNAL
₹328.00
Eternal
7D
3.0%
1Y
2.8%
Narrative Update • Aug 19

ETERNAL: Upcoming Results And Revised Assumptions Will Support Long Term Profitability Upside

Analysts have revised Eternal's fair value estimate from ₹346.66 to ₹357.22, reflecting updated views on its discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News for Eternal Eternal has scheduled a board meeting for Jul 22, 2026.
LENSKART
₹661.40
Lenskart Solutions
7D
8.1%
1Y
n/a
TCS
₹2,302.00
Tata Consultancy Services
7D
-2.5%
1Y
-24.6%
Narrative Update • Aug 18

TCS: JFK Digital Terminal Partnership Will Drive Future ReRating Potential

Analysts now set a revised fair value price target for Tata Consultancy Services at ₹3,125, compared with the prior ₹3,228, reflecting updated views on discount rate assumptions, revenue, profit margin expectations, and future P/E multiples. What's in the News F1R3FLY Limited joined the Tata Consultancy Services Alliances and Partnerships ecosystem, with both companies working together to deploy F1R3FLY's concurrent computing on the TCS SovereignSecure Cloud to address enterprise cloud data security and compute infrastructure needs.
532144
₹2,306.40
Welspun
7D
23.1%
1Y
159.0%
Narrative Update • Aug 17

532144: Record Order Book And FY27 Guidance Will Support Balanced Earnings Visibility

The analyst price target for Welspun has been revised from ₹1,608 to ₹1,957, with analysts citing updated assumptions for revenue growth, profit margin, discount rate, and future P/E to support the change. What’s in the News for Welspun Welspun Corp.
INFY
₹1,121.00
Infosys
7D
-4.1%
1Y
-24.6%
Narrative Update • Aug 13

INFY: AI Pricing And Productivity Shift Will Shape Medium Term Upside Potential

Analysts have reduced their fair value estimate for Infosys to ₹1,478 from ₹1,705 as price targets across the Street move lower on weaker Q1 results, reduced revenue guidance, and ongoing concerns about AI driven pricing and productivity pressures. Analyst Commentary on Infosys Recent research on Infosys points to a more cautious tone after the Q1 miss and guidance cut, with several firms trimming price targets and downgrading ratings.
HCLTECH
₹1,302.50
HCL Technologies
7D
-4.2%
1Y
-11.2%
Narrative Update • Aug 12

HCLTECH: AI Data Centres And New Deals Will Support Steady Outlook

Analysts have reduced their fair value estimate for HCL Technologies from about ₹1,551 to around ₹1,517. This reflects updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples.
SBIN
₹1,048.70
State Bank of India
7D
-1.8%
1Y
28.5%
Narrative Update • Aug 10

SBIN: Upcoming CFO Transition And Debt Raise Will Support Bullish Outlook

Analysts have raised their price target for State Bank of India from ₹1,195.61 to ₹1,245.89, citing changes to discount rate assumptions, revenue growth expectations, profit margins and forward P/E inputs in their valuation models. What’s in the News for State Bank of India State Bank of India scheduled a Board meeting on August 7, 2026, to consider the financial results for the quarter ended June 30, 2026.
500188
₹594.80
Hindustan Zinc
7D
5.9%
1Y
40.0%
Narrative Update • Aug 10

500188: Leadership Changes And Low Carbon Zinc Alliances Will Support Measured Upside

Analysts have trimmed their price target for Hindustan Zinc from ₹652 to about ₹637. This reflects updated views on fair value that factor in revised assumptions for growth, margins, and future P/E multiples.
LICI
₹422.25
Life Insurance Corporation of India
7D
2.1%
1Y
-5.0%
532215
₹1,246.30
Axis Bank
7D
2.4%
1Y
16.4%
ITC
₹269.40
ITC
7D
-3.2%
1Y
-32.4%
Analysis Article • Aug 04

ITC Limited (NSE:ITC) Analysts Are Cutting Their Estimates: Here's What You Need To Know

As you might know, ITC Limited ( NSE:ITC ) recently reported its quarterly numbers. It was a credible result overall...
HINDUNILVR
₹2,015.00
Hindustan Unilever
7D
-3.0%
1Y
-23.4%
Narrative Update • Jul 29

HINDUNILVR: Dividend Payouts And Capacity Expansion Will Support Future Upside Potential

Analysts now place Hindustan Unilever's fair value at ₹2,493 from ₹2,557, reflecting slightly lower assumptions for revenue growth, profit margin and future P/E while keeping the overall risk profile broadly similar. What’s in the News for Hindustan Unilever Hindustan Unilever has scheduled multiple board meetings in 2026 and 2027 to review financial results, including first quarter results on July 28, 2026, second quarter and half yearly results on October 28, 2026, and third quarter results on February 11, 2027.
532454
₹1,946.90
Bharti Airtel
7D
-2.3%
1Y
0.7%
DMART
₹3,906.00
Avenue Supermarts
7D
-3.8%
1Y
-16.9%
500247
₹402.80
Kotak Mahindra Bank
7D
2.5%
1Y
1.4%
ICICIAMC
₹3,269.70
ICICI Prudential Asset Management
7D
5.5%
1Y
n/a
Narrative Update • Jun 26

ICICIAMC: Index Additions And Updated Assumptions Will Guide Balanced Outlook

Analysts have raised their price target for ICICI Prudential Asset Management from ₹3,392 to ₹3,660, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, which together support a higher valuation framework. What's in the News ICICI Prudential Asset Management has a board meeting scheduled on May 21, 2026, to consider the intimation of the Annual General Meeting and the record date.