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Indian (NIFTY) Market Analysis & Valuation

UpdatedSep 10, 2026
DataAggregated Company Financials
Companies5142
  • 7D-0.6%
  • 3M5.0%
  • 1Y-0.1%
  • YTD-1.2%

In the last week, the market has been flat, with a notable exception in the Information Technology sector dropping 4.6%. 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
Thu, 10 Sep 2026₹478.3t₹208.6t₹20.1t22.6x23.7x2.3x
Sat, 08 Aug 2026₹487.3t₹203.9t₹19.9t23.2x24.5x2.4x
Mon, 06 Jul 2026₹476.3t₹197.4t₹19.5t23.8x24.4x2.4x
Wed, 03 Jun 2026₹461.4t₹197.6t₹19.5t23.3x23.7x2.3x
Fri, 01 May 2026₹462.6t₹192.1t₹18.9t23.7x24.5x2.4x
Sun, 29 Mar 2026₹421.8t₹191.2t₹18.7t20.2x22.5x2.2x
Tue, 24 Feb 2026₹468.3t₹190.9t₹18.7t23x25.1x2.5x
Thu, 22 Jan 2026₹454.1t₹185.6t₹18.3t23x24.8x2.4x
Sat, 20 Dec 2025₹470.1t₹184.2t₹18.2t25.3x25.8x2.6x
Mon, 17 Nov 2025₹467.6t₹173.5t₹17.6t27x26.6x2.7x
Wed, 15 Oct 2025₹459.1t₹179.4t₹17.7t27.6x25.9x2.6x
Fri, 12 Sep 2025₹455.9t₹177.9t₹17.6t28x25.9x2.6x
Sun, 10 Aug 2025₹439.7t₹177.3t₹17.6t28.2x25x2.5x
Tue, 08 Jul 2025₹459.1t₹173.4t₹17.2t29.6x26.8x2.6x
Thu, 05 Jun 2025₹443.8t₹173.6t₹17.2t28.8x25.9x2.6x
Sat, 03 May 2025₹419.5t₹169.9t₹16.9t26.1x24.8x2.5x
Mon, 31 Mar 2025₹408.8t₹169.0t₹16.8t24.9x24.4x2.4x
Wed, 26 Feb 2025₹392.7t₹169.0t₹16.8t26x23.4x2.3x
Fri, 24 Jan 2025₹422.6t₹167.7t₹16.5t30.9x25.7x2.5x
Sun, 22 Dec 2024₹439.2t₹167.8t₹16.4t32.4x26.8x2.6x
Tue, 19 Nov 2024₹427.1t₹167.5t₹16.3t31x26.1x2.5x
Thu, 17 Oct 2024₹460.6t₹163.2t₹16.0t34.1x28.7x2.8x
Sat, 14 Sep 2024₹465.1t₹162.9t₹16.0t34.5x29.1x2.9x
Mon, 12 Aug 2024₹446.1t₹162.6t₹15.9t33.8x28.1x2.7x
Wed, 10 Jul 2024₹449.4t₹160.1t₹15.8t34.2x28.4x2.8x
Fri, 07 Jun 2024₹414.0t₹165.0t₹16.6t29.9x24.9x2.5x
Sun, 05 May 2024₹403.2t₹157.1t₹15.1t31.8x26.6x2.6x
Tue, 02 Apr 2024₹388.7t₹154.9t₹14.8t29.5x26.3x2.5x
Thu, 29 Feb 2024₹381.5t₹154.8t₹14.8t31x25.8x2.5x
Sat, 27 Jan 2024₹366.9t₹153.9t₹14.6t31.2x25.1x2.4x
Mon, 25 Dec 2023₹352.7t₹152.3t₹14.2t29.3x24.9x2.3x
Wed, 22 Nov 2023₹324.5t₹152.2t₹14.2t27.7x22.9x2.1x
Fri, 20 Oct 2023₹317.3t₹151.6t₹13.2t28.6x24x2.1x
Sun, 17 Sep 2023₹324.8t₹152.3t₹13.4t27.8x24.3x2.1x
Price to Earnings Ratio

24.3x


Total Market Cap: ₹324.8tTotal 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-0.58%
Utilities1.47%
Industrials1.31%
Materials0.36%
Healthcare0.35%
Consumer Discretionary-0.34%
Real Estate-1.12%
Financials-1.14%
Energy-1.32%
Telecom-1.36%
Consumer Staples-1.59%
Tech-4.57%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.5x.
    • 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 20.4% 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 16% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 10% 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
512599 Adani Enterprises₹3.10k7.4%
+₹289.7b		29.2%PE58.4xIndustrials
ADANIPORTS Adani Ports and Special Economic Zone₹1.77k3.6%
+₹141.7b		26.9%PE31.1xIndustrials
HAL Hindustan Aeronautics₹4.95k3.9%
+₹123.3b		8.1%PE35.5xIndustrials
ADANIPOWER Adani Power₹213.502.5%
+₹100.5b		70.9%PE29xUtilities
SOLARINDS Solar Industries India₹22.37k4.0%
+₹78.7b		60.0%PE101.7xMaterials
See more

Market Insights

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Fresh 13F filings are where some investors go to find their next stock pick. The problem is it's missing some of the most important details for making a good investment.
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Great earnings season, but are the earnings real?

Latest News

ADANIPORTS
₹1,768.00
Adani Ports and Special Economic Zone
7D
3.6%
1Y
26.9%
HDFCBANK
₹693.80
HDFC Bank
7D
-1.8%
1Y
-28.3%
Narrative Update • Sep 08

HDFCBANK: Governance Transition And Dividend Policy Will Support Future Share Price Rebound

Analysts have trimmed their price target for HDFC Bank from ₹1,018.76 to ₹994.49, reflecting slightly softer assumptions on revenue growth, profit margin and future P/E while keeping the discount rate broadly unchanged. What’s in the News for HDFC Bank HDFC Bank scheduled a board meeting on August 29, 2026 to consider the communication from CEO Sashidhar Jagdishan about not seeking reappointment and to take note of his plan to retire from the bank on October 26, 2026.
532374
₹857.30
Sterlite Technologies
7D
20.0%
1Y
644.5%
Narrative Update • Sep 07

532374: Long-Term Fiber Contracts Will Support Future Upside Potential

Analysts have lifted their price target for Sterlite Technologies from ₹770 to ₹950, citing updated assumptions around revenue growth, profit margins and future P/E expectations in their valuation work. What’s in the News for Sterlite Technologies Sterlite Technologies has called a board meeting on Sep 3, 2026, to consider capex and capacity addition at its existing manufacturing facility in response to demand for optical fiber cables and connectivity business globally.
PAYTM
₹1,739.00
One97 Communications
7D
6.2%
1Y
42.1%
512599
₹3,100.00
Adani Enterprises
7D
7.4%
1Y
29.2%
Narrative Update • Sep 03

512599: Aluminium Expansion In Odisha Will Drive Long Term Upside Potential

Analysts have modestly lifted their fair value estimate for Adani Enterprises, moving the price target from ₹3,744 to ₹3,880 as they fine tune assumptions on discount rates, revenue growth, profit margins and future P/E levels. What’s in the News for Adani Enterprises Adani Enterprises entered a long term partnership with Dioxycle to develop and scale low carbon chemical production in India, starting with a pilot facility that will use captured carbon dioxide and renewable electricity to produce formic acid, with plans to expand into a wider set of chemicals across energy, materials, packaging and manufacturing sectors.
HCLTECH
₹1,207.00
HCL Technologies
7D
-8.5%
1Y
-17.8%
Narrative Update • Sep 03

HCLTECH: AI Data Center Expansion Will Likely Pressure Profitability

Analysts have lifted their price target for HCL Technologies from ₹1,021.19 to ₹1,045.00, reflecting updated views on its fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What’s in the News for HCL Technologies HCLTech signed a new seven year agreement with The Guardian Life Insurance Company of America to support AI powered modernization across technology and operations, and will acquire Guardian India, integrating nearly 2,000 employees into a dedicated unit focused on Guardian.
TCS
₹2,204.10
Tata Consultancy Services
7D
-5.0%
1Y
-29.5%
Narrative Update • Sep 03

TCS: Expanding AI Partnerships And Airport Deal Will Shape Measured Future Outlook

The analyst price target for Tata Consultancy Services has been revised from ₹2,944.56 to ₹2,470.17, with analysts citing updated assumptions on discount rate, revenue growth, profit margin, and forward P/E as the key drivers of the change. What’s in the News for Tata Consultancy Services Tata Consultancy Services and MHP Management und IT Beratung GmbH have a five year, €1,250m partnership with Porsche AG that focuses on using AI across engineering, manufacturing, operations, customer experience, and enterprise transformation, including next generation automotive technology services and software defined mobility platforms.
SOLARINDS
₹22,370.00
Solar Industries India
7D
4.0%
1Y
60.0%
Narrative Update • Sep 03

SOLARINDS: Richer P/E Will Likely Outrun Slower Earnings Trajectory

Analysts have raised their price target for Solar Industries India from about ₹13,830 to roughly ₹15,180. This change reflects updated assumptions for slightly lower revenue growth and profit margins, a modestly reduced discount rate, and a higher future P/E multiple.
HAL
₹4,950.00
Hindustan Aeronautics
7D
3.9%
1Y
8.1%
Narrative Update • Sep 03

HAL: Aravalli Engine Partnership Will Drive Long-Term Upside Potential

Analysts have raised their price target for Hindustan Aeronautics from ₹6,300 to ₹6,800, citing updated assumptions on revenue growth, profit margins, future P/E and discount rates as key drivers of the new fair value estimate. What's in the News for Hindustan Aeronautics Hindustan Aeronautics and Safran Helicopter Engines signed a contract with joint venture SAFHAL Helicopter Engines Pvt.
RELIANCE
₹1,274.00
Reliance Industries
7D
-2.2%
1Y
-7.9%
LICI
₹405.60
Life Insurance Corporation of India
7D
-2.7%
1Y
-7.5%
ADANIPOWER
₹213.50
Adani Power
7D
2.5%
1Y
70.9%
COALINDIA
₹432.00
Coal India
7D
2.8%
1Y
9.8%
INFY
₹1,036.50
Infosys
7D
-8.3%
1Y
-31.3%
ICICIBANK
₹1,384.50
ICICI Bank
7D
-3.2%
1Y
-1.2%
532454
₹1,837.00
Bharti Airtel
7D
-1.5%
1Y
-4.0%