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Indian (NIFTY) Market Analysis & Valuation

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies4953
  • 7D1.3%
  • 3M-1.5%
  • 1Y10.8%
  • YTD-1.1%

Over the last 7 days, the market has risen 1.3%, driven by gains of 2.2% in the Financials sector. Meanwhile, the Information Technology sector has underperformed, shrinking 6.5% in that time. As for the past 12 months, the market is up 11%. 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
Sat, 14 Feb 2026₹472.3t₹189.1t₹18.7t23.8x25.2x2.5x
Mon, 12 Jan 2026₹467.8t₹184.3t₹18.2t24.8x25.7x2.5x
Wed, 10 Dec 2025₹464.4t₹184.1t₹18.2t25.3x25.5x2.5x
Fri, 07 Nov 2025₹465.3t₹181.2t₹18.1t27.6x25.7x2.6x
Sun, 05 Oct 2025₹456.9t₹178.9t₹17.6t28x25.9x2.6x
Tue, 02 Sep 2025₹447.8t₹177.8t₹17.6t27.7x25.4x2.5x
Thu, 31 Jul 2025₹450.2t₹174.8t₹17.4t29.3x25.8x2.6x
Sat, 28 Jun 2025₹458.3t₹173.4t₹17.1t29.5x26.8x2.6x
Mon, 26 May 2025₹440.4t₹173.1t₹17.1t27.7x25.8x2.5x
Wed, 23 Apr 2025₹424.3t₹169.2t₹16.8t27.3x25.2x2.5x
Fri, 21 Mar 2025₹404.2t₹169.0t₹16.8t25.4x24.1x2.4x
Sun, 16 Feb 2025₹396.7t₹169.0t₹16.7t26.7x23.7x2.3x
Tue, 14 Jan 2025₹415.1t₹167.9t₹16.4t30.3x25.3x2.5x
Thu, 12 Dec 2024₹458.4t₹167.6t₹16.4t33.2x28x2.7x
Sat, 09 Nov 2024₹442.6t₹166.6t₹16.2t33.3x27.3x2.7x
Mon, 07 Oct 2024₹457.8t₹163.0t₹16.0t33.8x28.6x2.8x
Wed, 04 Sep 2024₹462.4t₹162.8t₹16.0t34.3x28.9x2.8x
Fri, 02 Aug 2024₹457.7t₹161.6t₹15.7t34.7x29.1x2.8x
Sun, 30 Jun 2024₹437.1t₹160.1t₹15.8t32.9x27.7x2.7x
Tue, 28 May 2024₹417.8t₹164.5t₹16.6t30.8x25.2x2.5x
Thu, 25 Apr 2024₹397.3t₹155.9t₹14.9t31.6x26.7x2.5x
Sat, 23 Mar 2024₹378.1t₹154.9t₹14.8t29x25.6x2.4x
Mon, 19 Feb 2024₹384.8t₹154.8t₹14.8t31.4x26.1x2.5x
Wed, 17 Jan 2024₹370.6t₹152.5t₹14.2t31.1x26.2x2.4x
Fri, 15 Dec 2023₹351.0t₹152.2t₹14.2t29x24.8x2.3x
Sun, 12 Nov 2023₹316.7t₹152.8t₹14.1t27.7x22.4x2.1x
Tue, 10 Oct 2023₹312.6t₹151.2t₹13.2t27.4x23.8x2.1x
Thu, 07 Sep 2023₹318.8t₹152.3t₹13.4t27.6x23.8x2.1x
Sat, 05 Aug 2023₹306.3t₹151.5t₹13.2t27.1x23.2x2x
Mon, 03 Jul 2023₹293.7t₹149.9t₹12.5t25.5x23.5x2x
Wed, 31 May 2023₹280.9t₹150.3t₹12.5t23.1x22.4x1.9x
Fri, 28 Apr 2023₹266.4t₹145.5t₹12.3t22x21.6x1.8x
Sun, 26 Mar 2023₹251.7t₹144.8t₹12.1t20.3x20.7x1.7x
Tue, 21 Feb 2023₹263.0t₹145.0t₹12.2t21.6x21.6x1.8x
Price to Earnings Ratio

21.6x


Total Market Cap: ₹263.0tTotal Earnings: ₹12.2tTotal Revenue: ₹145.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.2x202420252026
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 25.2x.
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 9.3% 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 Market1.26%
Consumer Discretionary2.84%
Real Estate2.36%
Consumer Staples2.33%
Financials2.15%
Healthcare2.07%
Telecom1.94%
Industrials1.89%
Materials1.77%
Utilities0.83%
Energy0.17%
Tech-6.48%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3%, which is higher than its past year's earnings growth of 12.9% 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 4.9% 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
SBIN State Bank of India₹1.20k12.4%
+₹1.2t		66.0%PB1.9xFinancials
BAJFINANCE Bajaj Finance₹1.02k4.4%
+₹267.3b		22.1%PE35.3xFinancials
505200 Eicher Motors₹8.07k12.4%
+₹244.0b		71.5%PE41.3xConsumer Discretionary
500510 Larsen & Toubro₹4.17k2.6%
+₹144.7b		28.9%PE33.5xIndustrials
517334 Samvardhana Motherson International₹131.2511.2%
+₹139.3b		56.1%PE40.6xConsumer Discretionary
See more

Market Insights

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Last Week

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Hindustan Aeronautics
7D
3.6%
1Y
19.9%
HINDUNILVR
₹2,305.20
Hindustan Unilever
7D
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1Y
-0.6%
517334
₹131.25
Samvardhana Motherson International
7D
11.2%
1Y
56.1%
HCLTECH
₹1,455.20
HCL Technologies
7D
-8.7%
1Y
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HCLTECH: AI Deals And Public Sector Expansion Will Support Bullish Outlook

Analysts have nudged their price target on HCL Technologies slightly higher to about ₹1,766 from roughly ₹1,762, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News HCL Technologies was selected by Guardian Life Insurance Company of America for a multi-year partnership focused on AI driven technology transformation using its GenAI platform, AI Force, across application development, support, testing and infrastructure management (Client announcement).
HDFCBANK
₹903.90
HDFC Bank
7D
-4.0%
1Y
6.7%

HDFCBANK: Lower Discount Rate Will Support Rebound Despite Recent Regulatory Penalty

Analysts have lifted their price target for HDFC Bank from ₹1,138.35 to ₹1,155.18, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels that together support a slightly higher assessed fair value. What's in the News Penalty of ₹9.1 million imposed on HDFC Bank by the Reserve Bank of India for contraventions related to interest rate directions, outsourcing guidelines and KYC norms, with the bank stating that corrective actions have been taken and that it is in compliance as of the latest communication (regulatory filing).
505200
₹8,065.50
Eicher Motors
7D
12.4%
1Y
71.5%
INFY
₹1,369.10
Infosys
7D
-9.2%
1Y
-26.2%

INFY: Gradual IT Spend Recovery And AI Adoption Will Support 2026 Repricing

Infosys' analyst price targets have edged higher, with recent increases ranging from about $0.20 to $2.50 per share, as analysts factor in slightly updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent Street research on Infosys has focused on fine tuning fair value estimates rather than making drastic revisions, with several price targets adjusted in small increments between about $0.20 and $2.50 per share.
LICI
₹862.40
Life Insurance Corporation of India
7D
-4.4%
1Y
13.6%

Earnings Working Against Life Insurance Corporation of India's (NSE:LICI) Share Price

Feb 11
Earnings Working Against Life Insurance Corporation of India's (NSE:LICI) Share Price
TCS
₹2,692.20
Tata Consultancy Services
7D
-8.5%
1Y
-31.6%

TCS: AI Partnerships And New US Units Will Drive Future Upside

Analysts have modestly adjusted their price outlook for Tata Consultancy Services, reflecting updated assumptions for the discount rate, long term revenue growth, profit margins and future P/E levels. Together, these changes fine tune their overall valuation framework without a material shift in fair value.
SBIN
₹1,198.60
State Bank of India
7D
12.4%
1Y
66.0%

SBIN: New Leadership And Auditor Appointments Will Shape Earnings Outlook

Analysts have nudged up their fair value estimate for State Bank of India from ₹1,112.31 to ₹1,122.69, citing tweaks to discount rate assumptions, slightly different revenue growth and profit margin expectations, and a modest adjustment to future P/E multiples. What's in the News A board meeting is scheduled on February 7, 2026 at 10:00 Indian Standard Time to consider the financial results for the quarter ended December 31, 2025, along with the Limited Review Report (company filing).
500510
₹4,172.90
Larsen & Toubro
7D
2.6%
1Y
28.9%

500510: New Mega Infrastructure Orders Will Support Stronger Medium Term Prospects

Analysts have lifted their price target for Larsen & Toubro to ₹4,598.90 from ₹4,538.27, citing updated assumptions around slightly higher revenue growth, a small improvement in profit margins, a lower discount rate and a modestly lower future P/E multiple. What's in the News L&T's Heavy Civil Infrastructure business won a contract from the Royal Commission of Riyadh City for design and turnkey construction of an 8.4 km extension of the Riyadh Metro Red Line, including elevated and underground sections and five stations (company announcement).
ADANIPOWER
₹139.90
Adani Power
7D
-8.4%
1Y
43.1%

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BAJFINANCE
₹1,024.75
Bajaj Finance
7D
4.4%
1Y
22.1%

BAJFINANCE: Upcoming Results Will Confirm Stronger Margins And Supportive Risk Profile

Analysts have nudged their fair value estimate for Bajaj Finance to ₹1,079 from ₹1,073.81, citing updated assumptions around discount rate, revenue growth, profit margin and future P/E as drivers of this refined price target. What's in the News Bajaj Finance has scheduled a board meeting for Feb 3, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
RELIANCE
₹1,419.60
Reliance Industries
7D
-2.2%
1Y
16.6%

RELIANCE: Earnings Visibility And P E Support Will Underpin Future Resilience

Analysts have inched their fair value estimate for Reliance Industries up from ₹1,714.03 to ₹1,719.70 per share, reflecting refreshed assumptions on revenue growth, profit margins and future P/E multiples in line with their broader earnings outlook work. Analyst Commentary Analysts are treating the small fair value revision for Reliance Industries as a fine tuning exercise rather than a major reset, with views split between confidence in execution and caution around what is already priced in.
511218
₹1,064.90
Shriram Finance
7D
6.2%
1Y
97.6%

511218: Equity Infusion And Governance Changes Will Support Stronger Prospects Ahead

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