Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Market Analysis & Valuation

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies4993
  • 7D-0.03%
  • 3M-2.2%
  • 1Y2.6%
  • YTD-2.8%

Over the last 7 days, the market has remained flat, although notably the Healthcare sector gained 3.6% in that time. Similarly, the market is flat for the past 12 months. 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
Tue, 12 May 2026₹466.1t₹193.9t₹19.0t24.2x24.5x2.4x
Thu, 09 Apr 2026₹445.2t₹191.3t₹18.7t22.2x23.8x2.3x
Sat, 07 Mar 2026₹449.2t₹191.0t₹18.7t21.7x24x2.4x
Mon, 02 Feb 2026₹450.2t₹187.3t₹18.5t23.1x24.4x2.4x
Wed, 31 Dec 2025₹471.3t₹184.3t₹18.2t25.2x25.9x2.6x
Fri, 28 Nov 2025₹467.7t₹173.7t₹17.6t26.1x26.6x2.7x
Sun, 26 Oct 2025₹468.2t₹179.7t₹17.8t27.9x26.3x2.6x
Tue, 23 Sep 2025₹462.9t₹178.6t₹17.6t28.3x26.3x2.6x
Thu, 21 Aug 2025₹455.4t₹177.7t₹17.7t28x25.8x2.6x
Sat, 19 Jul 2025₹456.5t₹173.4t₹17.0t30.1x26.8x2.6x
Mon, 16 Jun 2025₹445.9t₹173.4t₹17.1t29.6x26x2.6x
Wed, 14 May 2025₹427.4t₹170.8t₹16.9t26.7x25.3x2.5x
Fri, 11 Apr 2025₹389.5t₹169.0t₹16.8t24.9x23.2x2.3x
Sun, 09 Mar 2025₹394.2t₹169.1t₹16.8t25.8x23.5x2.3x
Tue, 04 Feb 2025₹414.3t₹163.4t₹16.4t28.7x25.2x2.5x
Thu, 02 Jan 2025₹442.4t₹167.9t₹16.4t32.7x27x2.6x
Sat, 30 Nov 2024₹444.7t₹167.5t₹16.3t31.8x27.2x2.7x
Mon, 28 Oct 2024₹435.1t₹165.8t₹16.2t31.5x26.9x2.6x
Wed, 25 Sep 2024₹472.9t₹163.0t₹16.0t34.4x29.5x2.9x
Fri, 23 Aug 2024₹456.5t₹162.7t₹16.0t33.9x28.6x2.8x
Sun, 21 Jul 2024₹444.4t₹160.3t₹15.8t33.4x28.1x2.8x
Tue, 18 Jun 2024₹433.0t₹160.1t₹15.8t32.2x27.4x2.7x
Thu, 16 May 2024₹400.8t₹158.0t₹15.4t31.4x26x2.5x
Sat, 13 Apr 2024₹394.8t₹154.9t₹14.8t31x26.7x2.5x
Mon, 11 Mar 2024₹388.3t₹154.8t₹14.8t30.6x26.3x2.5x
Wed, 07 Feb 2024₹382.0t₹154.2t₹14.7t32.3x26x2.5x
Fri, 05 Jan 2024₹361.7t₹152.3t₹14.2t30.4x25.5x2.4x
Sun, 03 Dec 2023₹334.1t₹152.1t₹14.1t28.2x23.7x2.2x
Tue, 31 Oct 2023₹308.0t₹152.0t₹13.6t27.7x22.6x2x
Thu, 28 Sep 2023₹321.9t₹152.2t₹13.4t27.5x24x2.1x
Sat, 26 Aug 2023₹308.9t₹152.3t₹13.4t26.7x23.1x2x
Mon, 24 Jul 2023₹304.3t₹150.8t₹12.6t26.4x24.2x2x
Wed, 21 Jun 2023₹290.8t₹149.9t₹12.5t25.4x23.3x1.9x
Fri, 19 May 2023₹273.1t₹149.3t₹12.5t22.9x21.9x1.8x
Price to Earnings Ratio

21.9x


Total Market Cap: ₹273.1tTotal Earnings: ₹12.5tTotal Revenue: ₹149.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.4x202420252026
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 25.4x.
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 9.1% 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-0.029%
Healthcare3.59%
Materials1.42%
Tech0.80%
Consumer Discretionary0.43%
Industrials0.36%
Consumer Staples0.15%
Real Estate-0.21%
Financials-0.59%
Utilities-1.54%
Telecom-2.22%
Energy-4.05%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading close to its 3-year average PE ratio of 39.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings growth of 13.1% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.6x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 30% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.1% 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₹641.555.0%
+₹129.1b		49.7%PE19.6xMaterials
IDEA Vodafone Idea₹11.8910.1%
+₹118.1b		71.3%PS2.9xTelecom
POLYCAB Polycab India₹9.02k8.2%
+₹103.0b		50.2%PE50.8xIndustrials
TATACONSUM Tata Consumer Products₹1.25k8.6%
+₹98.5b		12.0%PE80.4xConsumer Staples
BAJAJ-AUTO Bajaj Auto₹10.40k3.5%
+₹98.1b		28.9%PE27xConsumer Discretionary
See more

Market Insights

Header cover image
Both robotic engineering and AI have advanced exponentially in recent years. Are they ready to combine and scale commercially?
Continue reading
The dire straits of Hormuz ⛴️

Latest News

IDEA
₹11.89
Vodafone Idea
7D
10.1%
1Y
71.3%
COFORGE
₹1,320.40
Coforge
7D
13.0%
1Y
-20.1%
SBIN
₹974.60
State Bank of India
7D
-8.0%
1Y
21.6%
TATACONSUM
₹1,253.00
Tata Consumer Products
7D
8.6%
1Y
12.0%
Analysis Article • 20h

Tata Consumer Products Limited (NSE:TATACONSUM) Just Released Its Annual Results And Analysts Are Updating Their Estimates

Investors in Tata Consumer Products Limited ( NSE:TATACONSUM ) had a good week, as its shares rose 9.5% to close at...
POLYCAB
₹9,021.50
Polycab India
7D
8.2%
1Y
50.2%
PIDILITIND
₹1,453.00
Pidilite Industries
7D
6.5%
1Y
-6.3%
Analysis Article • May 10

Pidilite Industries Limited (NSE:PIDILITIND) Just Released Its Annual Earnings: Here's What Analysts Think

Investors in Pidilite Industries Limited ( NSE:PIDILITIND ) had a good week, as its shares rose 7.3% to close at ₹1,476...
500114
₹4,054.05
Titan
7D
-7.3%
1Y
13.8%
ASIANPAINT
₹2,505.50
Asian Paints
7D
3.1%
1Y
7.8%
Narrative Update • May 09

ASIANPAINT: Board Review And Dividend Decision Will Guide Fairly Valued Outlook

Analysts have made a very small adjustment to the Asian Paints fair value estimate, with the price target moving from ₹2,656.00 to ₹2,654.74. This reflects updated assumptions on discount rate, revenue growth, profit margin and future P/E.
TCS
₹2,300.30
Tata Consultancy Services
7D
-5.2%
1Y
-34.6%
BAJAJ-AUTO
₹10,397.00
Bajaj Auto
7D
3.5%
1Y
28.9%
ADANIPOWER
₹209.63
Adani Power
7D
-8.8%
1Y
94.6%
Narrative Update • May 06

ADANIPOWER: Upcoming Results Will Challenge Lofty Pricing After Richer Market Assumptions

Analysts now place Adani Power's price target at ₹208, up from ₹180, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E that together shift their assessment of fair value. What's in the News Board meeting scheduled on Apr 29, 2026 to consider and approve the audited financial results for the quarter and year ended Mar 31, 2026, including full year earnings and key financial metrics (company filing).
BAJFINANCE
₹904.20
Bajaj Finance
7D
-5.7%
1Y
0%
Narrative Update • May 04

BAJFINANCE: Higher Margins And Dividend Outlook Will Support Future Upside

Analysts have trimmed their price target on Bajaj Finance by about ₹20 to roughly ₹1,059. This reflects updated views on fair value that balance a slightly different revenue growth outlook, an adjusted discount rate, a higher profit margin assumption and a lower future P/E multiple.
RELIANCE
₹1,364.00
Reliance Industries
7D
-6.8%
1Y
-3.7%
Narrative Update • May 03

RELIANCE: Long Term Green Ammonia Offtake Is Expected To Support Earnings

Analysts have revised the fair value estimate for Reliance Industries to ₹1,696.63 from ₹1,732.03, reflecting updated assumptions for revenue growth, profit margins, and a higher future P/E multiple. Analyst Commentary Recent Street research on comparable large caps points to a pattern that can be useful when thinking about Reliance Industries, especially around how valuation targets move as execution and growth assumptions are refreshed.
500188
₹641.55
Hindustan Zinc
7D
5.0%
1Y
49.7%
Narrative Update • Apr 30

500188: Low Carbon Zinc Alliances And Silver Output Will Support Measured Upside

Analysts have increased their fair value estimate for Hindustan Zinc from ₹644 to ₹652, citing changes in assumed revenue growth, profit margin and the future P/E multiple in their updated models. What's in the News Reported fourth quarter production with silver output of 176 tonnes, 11% higher quarter on quarter, and for the full year mined metal production of 1,114 Kt and refined metal production of 1,048 Kt, with silver at 627 tonnes contributing 45% to overall profitability (Announcement of Operating Results).
HDFCBANK
₹750.45
HDFC Bank
7D
-2.8%
1Y
-21.9%
Narrative Update • Apr 26

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

Analysts have trimmed their fair value estimate for HDFC Bank from about ₹1,105.71 to ₹1,041.89, reflecting updated views on slightly softer revenue growth assumptions, a modestly higher discount rate, a stronger profit margin outlook and a lower future P/E multiple. What's in the News Board meeting on February 3, 2026 to consider a 3 year reappointment of Deputy Managing Director Mr. Kaizad Bharucha from April 19, 2026 to April 18, 2029, subject to approvals (company filing).
532454
₹1,756.75
Bharti Airtel
7D
-2.8%
1Y
-3.5%