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Indian (NIFTY) Market Analysis & Valuation

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies5077
  • 7D-1.4%
  • 3M1.8%
  • 1Y-0.2%
  • YTD-2.1%

Over the last 7 days, the market has dropped 1.4%, driven by a decline of 2.8% in the Financials sector. Although the market performance has been flat over the past year. 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
Sat, 25 Jul 2026₹469.6t₹199.5t₹19.6t23.5x24x2.4x
Mon, 22 Jun 2026₹475.4t₹197.4t₹19.5t23.8x24.4x2.4x
Wed, 20 May 2026₹459.0t₹195.5t₹19.4t23.1x23.7x2.3x
Fri, 17 Apr 2026₹459.9t₹191.4t₹18.7t23.3x24.5x2.4x
Sun, 15 Mar 2026₹429.5t₹191.1t₹18.7t21.2x23x2.2x
Tue, 10 Feb 2026₹472.8t₹188.6t₹18.9t23.8x25x2.5x
Thu, 08 Jan 2026₹479.9t₹184.3t₹18.2t25.5x26.3x2.6x
Sat, 06 Dec 2025₹469.7t₹184.0t₹18.2t25.6x25.8x2.6x
Mon, 03 Nov 2025₹469.8t₹180.4t₹18.0t27.9x26.1x2.6x
Wed, 01 Oct 2025₹450.6t₹178.8t₹17.6t27.5x25.6x2.5x
Fri, 29 Aug 2025₹444.2t₹177.8t₹17.6t27.4x25.2x2.5x
Sun, 27 Jul 2025₹449.6t₹174.5t₹17.4t29.3x25.8x2.6x
Tue, 24 Jun 2025₹446.0t₹173.3t₹17.1t28.9x26x2.6x
Thu, 22 May 2025₹437.6t₹171.6t₹17.0t27.5x25.7x2.5x
Sat, 19 Apr 2025₹416.8t₹168.9t₹16.8t26.7x24.9x2.5x
Mon, 17 Mar 2025₹387.1t₹169.0t₹16.8t24.8x23.1x2.3x
Wed, 12 Feb 2025₹403.5t₹164.1t₹16.7t27.7x24.2x2.5x
Fri, 10 Jan 2025₹433.4t₹167.9t₹16.4t31.8x26.5x2.6x
Sun, 08 Dec 2024₹457.1t₹167.6t₹16.3t32.8x28x2.7x
Tue, 05 Nov 2024₹440.0t₹166.4t₹16.1t33x27.3x2.6x
Thu, 03 Oct 2024₹471.5t₹163.0t₹16.0t34.3x29.5x2.9x
Sat, 31 Aug 2024₹460.8t₹162.8t₹16.0t34.3x28.8x2.8x
Mon, 29 Jul 2024₹453.0t₹165.5t₹18.5t34.4x24.5x2.7x
Wed, 26 Jun 2024₹433.9t₹160.1t₹15.8t32.7x27.5x2.7x
Fri, 24 May 2024₹416.5t₹163.6t₹16.5t31.3x25.3x2.5x
Sun, 21 Apr 2024₹389.3t₹155.2t₹14.8t30.7x26.3x2.5x
Tue, 19 Mar 2024₹374.4t₹154.8t₹14.8t28.5x25.3x2.4x
Thu, 15 Feb 2024₹379.7t₹154.9t₹14.8t31x25.6x2.5x
Sat, 13 Jan 2024₹369.0t₹152.4t₹14.2t31.5x26.1x2.4x
Mon, 11 Dec 2023₹345.5t₹152.2t₹14.1t28.7x24.4x2.3x
Wed, 08 Nov 2023₹315.3t₹152.3t₹14.0t27.9x22.5x2.1x
Fri, 06 Oct 2023₹320.4t₹152.3t₹13.4t27.7x23.9x2.1x
Sun, 03 Sep 2023₹313.9t₹152.3t₹13.4t27.3x23.4x2.1x
Tue, 01 Aug 2023₹308.6t₹151.4t₹13.0t26.9x23.8x2x
Price to Earnings Ratio

23.8x


Total Market Cap: ₹308.6tTotal Earnings: ₹13.0tTotal Revenue: ₹151.4tTotal 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 15% 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 Market-1.36%
Consumer Staples0.30%
Materials-0.19%
Consumer Discretionary-0.50%
Healthcare-0.67%
Utilities-0.73%
Telecom-0.81%
Tech-1.34%
Industrials-1.43%
Energy-2.28%
Real Estate-2.59%
Financials-2.76%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.7%, which is higher than its past year's earnings growth of 16.2% 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 27% over the next 5 years.
  • This is better than its past earnings growth rate of 19% 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
500420 Torrent Pharmaceuticals₹4.96k4.1%
+₹273.3b		37.7%PE87.2xHealthcare
BAJAJ-AUTO Bajaj Auto₹11.13k6.6%
+₹192.0b		37.8%PE26.5xConsumer Discretionary
HCLTECH HCL Technologies₹1.27k5.6%
+₹181.6b		-14.7%PE18.6xTech
504375 IDream Film Infrastructure₹635.008.5%
+₹174.3b		n/an/aTech
532343 TVS Motor₹3.87k6.9%
+₹119.4b		39.5%PE53.6xConsumer Discretionary
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

INFY
₹1,040.90
Infosys
7D
-5.1%
1Y
-31.3%
500188
₹531.95
Hindustan Zinc
7D
2.6%
1Y
21.2%
UNITDSPR
₹1,467.20
United Spirits
7D
6.6%
1Y
12.0%
Narrative Update • Jul 24

UNITDSPR: Dividend Payout And Nuvola Investment Will Shape Balanced Outlook

Analysts have nudged their fair value estimate for United Spirits higher from ₹1,514.12 to ₹1,550.50, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What's in the News A board meeting of United Spirits is scheduled for July 22, 2026, at 14:50 IST to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
ADANIGREEN
₹1,395.10
Adani Green Energy
7D
-7.8%
1Y
43.0%
BAJAJ-AUTO
₹11,130.00
Bajaj Auto
7D
6.6%
1Y
37.8%
Narrative Update • Jul 22

BAJAJ-AUTO: Buyback Completion And Governance Changes Will Support Balanced Long Term Outlook

Analysts have nudged their fair value estimate for Bajaj Auto higher from ₹10,842.61 to ₹11,352.60, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. What’s in the News for Bajaj Auto Bajaj Auto completed a share buyback program, repurchasing 4,694,000 shares, representing 1.68% of its share capital, for ₹56,328 million under the buyback announced on May 6, 2026.
532343
₹3,870.05
TVS Motor
7D
6.9%
1Y
39.5%
Narrative Update • Jul 22

532343: Elevated P/E And Modest Margin Outlook Will Likely Cap Returns

Analysts have nudged their price target on TVS Motor higher from ₹2,900.69 to ₹3,017.93, citing updated assumptions around revenue growth, profit margins, the discount rate and the future P/E multiple. What's in the News for TVS Motor TVS Motor scheduled multiple board meetings, including on May 13, 2026, to consider and approve annual audited standalone and consolidated financial results for the year ended 31 March 2026, and on July 21, 2026, to review unaudited quarterly results and a proposal to raise up to ₹1,000 Cr through non convertible debentures on a private placement basis.
PNB
₹110.38
Punjab National Bank
7D
4.4%
1Y
1.8%
Narrative Update • Jul 21

PNB: Dividend Payout And Steady Margins Will Guide Measured Future Returns

Analysts have nudged their fair value estimate for Punjab National Bank higher, lifting the price target from about ₹119.38 to roughly ₹121.81 as they factor in updated assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Punjab National Bank has scheduled a board meeting on July 18, 2026, to consider and approve the unaudited or reviewed financial results for the quarter ended June 30, 2026, and to review other business matters.
RELIANCE
₹1,278.00
Reliance Industries
7D
-3.7%
1Y
-8.2%
Analysis Article • Jul 21

Results: Reliance Industries Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

Investors in Reliance Industries Limited ( NSE:RELIANCE ) had a good week, as its shares rose 2.0% to close at ₹1,323...
532215
₹1,228.10
Axis Bank
7D
-7.6%
1Y
13.0%
HCLTECH
₹1,271.00
HCL Technologies
7D
5.6%
1Y
-14.7%
512599
₹3,027.15
Adani Enterprises
7D
-4.2%
1Y
18.7%
New Narrative • Jul 17

Airport And Infrastructure Ramp-Up Will Shape A Long-Term Cash Generating Powerhouse

Catalysts About Adani Enterprises Adani Enterprises is an incubator for infrastructure focused businesses in airports, roads, energy transition, metals and mining, and related services. What are the underlying business or industry changes driving this perspective?
500420
₹4,959.80
Torrent Pharmaceuticals
7D
4.1%
1Y
37.7%
BAJFINANCE
₹1,012.80
Bajaj Finance
7D
-4.1%
1Y
10.8%
HDFCBANK
₹742.80
HDFC Bank
7D
-9.4%
1Y
-25.9%
504375
₹635.00
IDream Film Infrastructure
7D
8.5%
1Y
n/a
SBIN
₹1,015.00
State Bank of India
7D
-2.8%
1Y
25.8%
Narrative Update • Jun 19

SBIN: Upcoming Dividend And Debt Fundraising Plan Will Support Bullish Outlook

The latest narrative update on State Bank of India reflects a marginally higher analyst fair value estimate, with the price target moving from ₹1,195 to about ₹1,195.61 as analysts adjust inputs such as discount rate, expected revenue growth, profit margin, and future P/E assumptions. What’s in the News for State Bank of India Board meeting scheduled on June 18, 2026 to consider seeking approval for raising funds during FY27 through public or private issuance of debt instruments, including capital instruments, to overseas and Indian investors in INR and foreign currencies.