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Indian (NIFTY) Market Analysis & Valuation

UpdatedApr 13, 2026
DataAggregated Company Financials
Companies4985
  • 7D6.9%
  • 3M-4.0%
  • 1Y7.0%
  • YTD-5.7%

The market is up 6.9% in the last 7 days, led by the Financials and all sectors gaining ground. In the last year, the market has climbed 7.0%. 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, 13 Apr 2026₹451.5t₹191.4t₹18.7t22.4x24.1x2.4x
Wed, 11 Mar 2026₹446.7t₹191.1t₹18.7t21.6x23.9x2.3x
Fri, 06 Feb 2026₹466.4t₹187.7t₹18.5t23.6x25.1x2.5x
Sun, 04 Jan 2026₹480.9t₹184.3t₹18.2t25.6x26.4x2.6x
Tue, 02 Dec 2025₹473.2t₹184.0t₹18.2t26.1x26.1x2.6x
Thu, 30 Oct 2025₹473.5t₹179.9t₹17.9t27.7x26.4x2.6x
Sat, 27 Sep 2025₹449.8t₹178.7t₹17.6t27.5x25.5x2.5x
Mon, 25 Aug 2025₹452.8t₹177.7t₹17.7t28x25.6x2.5x
Wed, 23 Jul 2025₹456.4t₹174.0t₹17.4t30x26.3x2.6x
Fri, 20 Jun 2025₹440.2t₹173.3t₹17.1t28.9x25.7x2.5x
Sun, 18 May 2025₹439.0t₹171.2t₹17.0t27.5x25.9x2.6x
Tue, 15 Apr 2025₹398.3t₹169.0t₹16.8t25.4x23.7x2.4x
Thu, 13 Mar 2025₹388.8t₹169.1t₹16.8t25x23.2x2.3x
Sat, 08 Feb 2025₹418.9t₹163.9t₹16.5t29.1x25.4x2.6x
Mon, 06 Jan 2025₹447.8t₹167.9t₹16.4t32.9x27.3x2.7x
Wed, 04 Dec 2024₹451.4t₹167.6t₹16.4t32.3x27.6x2.7x
Fri, 01 Nov 2024₹443.1t₹167.2t₹16.3t32.7x27.1x2.6x
Sun, 29 Sep 2024₹474.5t₹163.0t₹16.0t34.1x29.7x2.9x
Tue, 27 Aug 2024₹458.1t₹162.8t₹16.0t34.3x28.7x2.8x
Thu, 25 Jul 2024₹447.4t₹161.1t₹15.8t34.2x28.2x2.8x
Sat, 22 Jun 2024₹432.6t₹160.1t₹15.8t32.4x27.4x2.7x
Mon, 20 May 2024₹408.7t₹157.9t₹15.4t31.8x26.5x2.6x
Wed, 17 Apr 2024₹390.0t₹155.1t₹14.8t30.5x26.4x2.5x
Fri, 15 Mar 2024₹375.5t₹154.8t₹14.8t28.4x25.4x2.4x
Sun, 11 Feb 2024₹381.5t₹154.7t₹14.7t32x25.9x2.5x
Tue, 09 Jan 2024₹362.0t₹152.3t₹14.2t30.7x25.6x2.4x
Thu, 07 Dec 2023₹345.2t₹152.2t₹14.1t28.6x24.4x2.3x
Sat, 04 Nov 2023₹311.6t₹152.0t₹13.9t27.7x22.4x2.1x
Mon, 02 Oct 2023₹320.4t₹152.2t₹13.4t27.6x23.9x2.1x
Wed, 30 Aug 2023₹310.9t₹152.3t₹13.4t27x23.3x2x
Fri, 28 Jul 2023₹305.4t₹151.6t₹12.8t26.5x23.8x2x
Sun, 25 Jun 2023₹286.8t₹149.9t₹12.5t25.1x22.9x1.9x
Tue, 23 May 2023₹273.8t₹149.2t₹12.6t22.9x21.8x1.8x
Thu, 20 Apr 2023₹262.7t₹145.1t₹12.2t21.8x21.5x1.8x
Price to Earnings Ratio

21.5x


Total Market Cap: ₹262.7tTotal Earnings: ₹12.2tTotal Revenue: ₹145.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.3x202420252026
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 25.3x.
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 Market6.90%
Real Estate10.11%
Industrials9.17%
Financials9.01%
Consumer Discretionary8.98%
Utilities8.25%
Materials7.25%
Telecom4.29%
Consumer Staples4.11%
Tech3.70%
Healthcare3.42%
Energy0.68%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.5%, which is higher than its past year's earnings growth of 12.6% 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
ICICIBANK ICICI Bank₹1.35k9.7%
+₹858.0b		3.0%PB2.8xFinancials
511218 Shriram Finance₹1.00k8.3%
+₹617.2b		57.2%PE25.8xFinancials
532454 Bharti Airtel₹1.87k4.4%
+₹475.0b		6.4%PE37.5xTelecom
LICI Life Insurance Corporation of India₹803.657.9%
+₹371.3b		4.2%PE9xFinancials
HDFCBANK HDFC Bank₹794.703.1%
+₹364.8b		-12.0%PB2.2xFinancials
See more

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Latest News

COALINDIA
₹435.10
Coal India
7D
-5.3%
1Y
11.0%
511218
₹1,004.20
Shriram Finance
7D
8.3%
1Y
57.2%
LICI
₹803.65
Life Insurance Corporation of India
7D
7.9%
1Y
4.2%

LICI: Government Stake Sale Plans And Bonus Share Proposal Will Shape Fair Pricing

Analysts are keeping the price target for Life Insurance Corporation of India steady at ₹850.00. This reflects changed assumptions that now pair projected revenue growth of about 10.60% with a profit margin of about 4.67% and a lower future P/E estimate of about 18.19x.
SUNPHARMA
₹1,652.20
Sun Pharmaceutical Industries
7D
-2.5%
1Y
-2.1%

SUNPHARMA: Obesity And Diabetes Launches Will Support A Constructive Outlook

Analysts have trimmed their price target for Sun Pharmaceutical Industries by about ₹5 to reflect slightly adjusted assumptions on fair value, revenue, profit margins, and future P/E expectations. What's in the News US FDA accepted a supplemental Biologics License Application for ILUMYA for adults with active psoriatic arthritis, with a regulatory action date expected by October 29, 2026, following prior approvals for multiple psoriasis indications and broad global authorizations (Product related announcement).
HDFCBANK
₹794.70
HDFC Bank
7D
3.1%
1Y
-12.0%

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

Analysts have trimmed their price target on HDFC Bank from ₹1,137.03 to ₹1,105.71, citing slightly softer assumptions around future P/E, revenue growth and profit margins, while keeping the discount rate broadly similar. What's in the News Board meeting on Feb 3, 2026 to consider the reappointment of Mr. Kaizad Bharucha as Deputy Managing Director for three years from Apr 19, 2026 to Apr 18, 2029, subject to approvals (company filing).
532215
₹1,353.75
Axis Bank
7D
8.7%
1Y
26.6%

532215: Preferred EV Partnership And Possible Microfinance Acquisition Will Support Upside

Analysts have trimmed Axis Bank's price target slightly to ₹1,477 from ₹1,496, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E that are broadly similar to prior estimates. What's in the News Axis Bank has been named a preferred financing partner for Tesla in India, becoming the first lender in the country to offer loan tenures of up to 10 years for premium electric vehicles, with fully digital, paperless processing for Tesla buyers across major metros and emerging EV markets (client announcement).
INFY
₹1,276.80
Infosys
7D
-2.3%
1Y
-9.4%

INFY: AI Consulting Shift Will Support 2026 IT Spending Turnaround

Infosys' implied fair value price target has been revised from ₹1,667.80 to ₹1,592.15 as analysts factor in a slightly lower assumed future P/E multiple and evolving views on how AI could shift IT services demand, cyclicality and risk across consulting, implementation and managed services. Analyst Commentary Recent Street research on Infosys has shifted toward a more cautious tone as analysts reassess how AI could reshape the mix between consulting, implementation and managed services, and what that might mean for earnings stability and valuation multiples.
500510
₹3,953.90
Larsen & Toubro
7D
6.0%
1Y
26.8%

500510: New Infrastructure Orders Will Drive Future Upside

Analysts have slightly reduced their price target on Larsen & Toubro, adjusting it from about ₹4,544 to around ₹4,528 as they update assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, while keeping their overall view broadly unchanged. What's in the News L&T has secured multiple significant orders in India, including a float glass plant in Gujarat and a two wheeler manufacturing facility in Andhra Pradesh, along with several add on orders in existing projects, classified in the ₹10,000 million to ₹25,000 million range (Client Announcements).
JYOTICNC
₹698.95
Jyoti CNC Automation
7D
-8.9%
1Y
-30.9%

JYOTICNC: Upcoming Board And Shareholder Decisions Will Support Long-Term Upside Potential

Analysts now set a lower price target for Jyoti CNC Automation at ₹987, down from ₹1,050, citing slightly more conservative assumptions around revenue growth, profit margins, discount rate, and future P/E multiples. What's in the News A board meeting is scheduled for February 10, 2026 to review standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
500620
₹1,335.35
Great Eastern Shipping
7D
-8.7%
1Y
54.6%

500620: High Utilisation And Fleet Renewal Will Support Stronger Long Term Outlook

Analysts have raised their price target on Great Eastern Shipping from ₹1,552 to ₹1,667.50, citing updated assumptions that include revenue growth of 6.67%, a profit margin of 49.17% and a lower future P/E estimate of 11.03x. What's in the News Board meeting on January 29, 2026 to consider unaudited financial results for the quarter ended December 31, 2025 and an interim dividend for FY 2025-26, if any (company filing).
BIOCON
₹345.00
Biocon
7D
-2.8%
1Y
9.0%
ADANIPOWER
₹181.35
Adani Power
7D
11.1%
1Y
75.0%
532454
₹1,870.40
Bharti Airtel
7D
4.4%
1Y
6.4%

532454: Digital Financial Services Arm Will Support Expansion Of New Connectivity Services

Analysts have nudged their fair value estimate for Bharti Airtel slightly lower from ₹2,351.47 to ₹2,347.63, reflecting small refinements to revenue growth, profit margin and forward P/E assumptions. What's in the News Bharti Airtel has rolled out more than 2,750 new 5G sites across 36 districts in Gujarat over the past 12 months, extending high speed coverage to over 41 million customers and introducing an unlimited data option in its ₹399 recharge pack (Business Expansions).
SWIGGY
₹264.20
Swiggy
7D
-2.8%
1Y
-20.7%
ICICIBANK
₹1,351.10
ICICI Bank
7D
9.7%
1Y
3.0%

ICICIBANK: Future GST Dispute Resolutions Will Support Bullish Case

Analysts have made a small cut to the ICICI Bank price target, trimming it by about ₹5 to reflect slightly adjusted fair value, discount rate, growth and margin assumptions, while keeping the forward P/E view largely consistent. What's in the News GST order from Maharashtra authority raises a tax demand of ₹3,843,353,972 with an equivalent penalty and applicable interest on services linked to specified minimum balance accounts.
DMART
₹4,448.00
Avenue Supermarts
7D
-2.3%
1Y
7.7%

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

Jan 26
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