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Indian (NIFTY) Market Analysis & Valuation

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies5053
  • 7D-0.5%
  • 3M11.4%
  • 1Y-2.3%
  • YTD-1.8%

In the last week, the market has been flat. Similarly, the market is flat for the past 12 months. 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, 27 Jun 2026₹471.2t₹197.4t₹19.5t23.9x24.2x2.4x
Mon, 25 May 2026₹462.0t₹196.2t₹19.5t23.4x23.6x2.4x
Wed, 22 Apr 2026₹467.8t₹191.5t₹18.8t23.6x24.9x2.4x
Fri, 20 Mar 2026₹425.9t₹191.1t₹18.7t21x22.8x2.2x
Sun, 15 Feb 2026₹465.1t₹189.4t₹18.7t23.4x24.8x2.5x
Tue, 13 Jan 2026₹468.3t₹184.3t₹18.2t24.5x25.7x2.5x
Thu, 11 Dec 2025₹462.9t₹184.1t₹18.2t25.2x25.4x2.5x
Sat, 08 Nov 2025₹466.4t₹181.4t₹18.1t27.6x25.7x2.6x
Mon, 06 Oct 2025₹456.9t₹178.9t₹17.6t28x25.9x2.6x
Wed, 03 Sep 2025₹449.1t₹177.8t₹17.6t27.8x25.5x2.5x
Fri, 01 Aug 2025₹447.5t₹175.0t₹17.4t29.2x25.7x2.6x
Sun, 29 Jun 2025₹458.3t₹173.3t₹17.1t29.5x26.7x2.6x
Tue, 27 May 2025₹443.0t₹173.1t₹17.1t27.8x25.9x2.6x
Thu, 24 Apr 2025₹427.4t₹169.2t₹16.8t27.4x25.4x2.5x
Sat, 22 Mar 2025₹408.9t₹169.0t₹16.8t25.8x24.4x2.4x
Mon, 17 Feb 2025₹396.7t₹168.9t₹16.7t26.6x23.7x2.3x
Wed, 15 Jan 2025₹421.3t₹167.9t₹16.4t30.7x25.7x2.5x
Fri, 13 Dec 2024₹456.2t₹167.6t₹16.4t33.1x27.9x2.7x
Sun, 10 Nov 2024₹442.6t₹166.6t₹16.2t33.3x27.3x2.7x
Tue, 08 Oct 2024₹449.0t₹163.0t₹16.0t32.6x28x2.8x
Thu, 05 Sep 2024₹462.0t₹162.8t₹16.0t34.5x28.9x2.8x
Sat, 03 Aug 2024₹452.9t₹161.7t₹15.8t34.6x28.7x2.8x
Mon, 01 Jul 2024₹437.1t₹160.1t₹15.8t32.9x27.7x2.7x
Wed, 29 May 2024₹415.1t₹164.6t₹16.6t30.5x25x2.5x
Fri, 26 Apr 2024₹399.9t₹156.2t₹15.0t31.7x26.7x2.6x
Sun, 24 Mar 2024₹378.0t₹154.9t₹14.8t29x25.6x2.4x
Tue, 20 Feb 2024₹386.9t₹154.8t₹14.8t31.5x26.2x2.5x
Thu, 18 Jan 2024₹366.1t₹152.9t₹14.2t31.1x25.7x2.4x
Sat, 16 Dec 2023₹353.8t₹152.2t₹14.2t29.1x25x2.3x
Mon, 13 Nov 2023₹316.7t₹152.8t₹14.1t27.8x22.4x2.1x
Wed, 11 Oct 2023₹316.1t₹151.2t₹13.2t27.7x24x2.1x
Fri, 08 Sep 2023₹320.5t₹152.3t₹13.4t27.9x23.9x2.1x
Sun, 06 Aug 2023₹306.3t₹151.9t₹13.3t27.2x23x2x
Tue, 04 Jul 2023₹295.2t₹149.9t₹12.5t25.7x23.6x2x
Price to Earnings Ratio

23.6x


Total Market Cap: ₹295.2tTotal Earnings: ₹12.5tTotal Revenue: ₹149.9tTotal 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 16% 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-0.48%
Healthcare1.51%
Real Estate0.88%
Consumer Discretionary0.24%
Financials0.16%
Energy-0.26%
Consumer Staples-0.33%
Tech-0.81%
Industrials-1.07%
Utilities-1.11%
Materials-2.51%
Telecom-2.56%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.0x.
    • 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 15.4% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 5.8% 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₹1.39k3.0%
+₹294.0b		-5.1%PB2.7xFinancials
HDFCBANK HDFC Bank₹796.302.1%
+₹254.5b		-21.0%PB2.1xFinancials
INDIGO InterGlobe Aviation₹5.45k8.5%
+₹165.7b		-6.3%PS2.5xIndustrials
M&M Mahindra & Mahindra₹3.18k3.5%
+₹120.0b		-0.7%PE20.8xConsumer Discretionary
RELIANCE Reliance Industries₹1.32k0.7%
+₹116.4b		-13.0%PE22.1xEnergy
See more

Market Insights

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Latest News

532466
₹10,978.65
Oracle Financial Services Software
7D
13.8%
1Y
22.0%
M&M
₹3,182.20
Mahindra & Mahindra
7D
3.5%
1Y
-0.7%
ICICIBANK
₹1,387.50
ICICI Bank
7D
3.0%
1Y
-5.1%
HDFCBANK
₹796.30
HDFC Bank
7D
2.1%
1Y
-21.0%
Narrative Update • Jun 24

HDFCBANK: Governance Actions And Rising Dividends Will Support Future Share Price Rebound

The analyst price target for HDFC Bank has been adjusted slightly higher to ₹1,039.85 from ₹1,039.79, with analysts citing minor refinements to fair value inputs, the discount rate, profit margin expectations and future P/E assumptions. What’s in the News for HDFC Bank Board meeting scheduled on July 18, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026.
532454
₹1,850.15
Bharti Airtel
7D
-3.1%
1Y
-8.8%
Narrative Update • Jun 24

532454: Remote Connectivity Rollout Will Drive Future Upside

Analysts have slightly reduced their Bharti Airtel fair value estimate from ₹2,293.94 to ₹2,290.79, reflecting marginally softer assumptions on revenue growth, profit margins, and future P/E levels in their price targets. What's in the News Bharti Airtel completed Phase 1 of a project with the Indian Army’s 4 Corps at Tezpur, becoming the first service provider to offer mobile connectivity across 30 remote, high altitude Army stations in Arunachal Pradesh, with Phase 2 planned for 15 additional locations.
500228
₹1,230.40
JSW Steel
7D
-4.5%
1Y
19.6%
Narrative Update • Jun 23

500228: Greenfield Expansion And Joint Venture Projects Will Shape A Balanced Outlook

Analysts have nudged their price target for JSW Steel up slightly from ₹1,361.60 to ₹1,371.29, reflecting refreshed assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News for JSW Steel JSW Steel reported consolidated crude steel production of 2.293 million tonnes for May 2026 against 1.996 million tonnes a year earlier, according to its latest monthly operating update.
BAJFINANCE
₹980.40
Bajaj Finance
7D
1.9%
1Y
3.5%
Narrative Update • Jun 23

BAJFINANCE: Dividend Moves And Slight Assumption Shifts Will Shape Future Returns

The latest narrative update for Bajaj Finance reflects a modest upward revision in the analyst fair value estimate to ₹1,063.86 from ₹1,059.09, as analysts adjust their assumptions around the discount rate, revenue growth, profit margin and future P/E to align with recent research inputs. What's in the News Bajaj Finance has proposed a special dividend of ₹0.60 per equity share, linked to the exceptional gain on the sale of Bajaj Housing Finance Limited shares for the financial year ended 31 March 2026, with the proposal scheduled for approval at the AGM on 30 July 2026.
MARUTI
₹13,745.00
Maruti Suzuki India
7D
2.6%
1Y
8.7%
Narrative Update • Jun 22

MARUTI: Gujarat Capacity Expansion And Land Purchase Will Support Future Upside

Analysts have trimmed their fair value estimate for Maruti Suzuki India slightly to ₹15,794 from about ₹15,840, reflecting small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Maruti Suzuki India announced an annual dividend of ₹140.00 per share, with an ex-date and record date of August 7, 2026, and a scheduled payment date of September 9, 2026.
LICI
₹423.35
Life Insurance Corporation of India
7D
-3.8%
1Y
-11.6%
NTPC
₹352.05
NTPC
7D
-3.8%
1Y
4.1%
Narrative Update • Jun 17

NTPC: Dividend And Storage Investment Will Support Future Stock Appeal

Analysts have nudged their fair value estimate for NTPC slightly higher from ₹436.04 to ₹436.93, reflecting updated views on revenue growth, profit margins, and future P/E assumptions. What's in the News for NTPC The board has scheduled a meeting on May 23, 2026 to review NTPC's annual standalone and consolidated financial statements for the year ended March 31, 2026 and to consider a final dividend for FY 2025-26, subject to shareholder approval at the AGM.
500188
₹518.10
Hindustan Zinc
7D
-8.0%
1Y
14.9%
Narrative Update • Jun 17

500188: Silver Dependence And Margin Compression Will Pressure Future Earnings

Analysts have kept their fair value estimate for Hindustan Zinc steady at ₹520, while updating assumptions around the discount rate, revenue growth, profit margins and future P/E, which together underpin the unchanged price target and refreshed narrative. What's in the News for Hindustan Zinc Hindustan Zinc signed a Memorandum of Understanding with Sulfozyme Agro India under its Zinc Industrial Park initiative at Khankhala in Rajasthan.
RELIANCE
₹1,318.10
Reliance Industries
7D
0.7%
1Y
-13.0%
Narrative Update • Jun 17

RELIANCE: Green Ammonia Agreement Will Support Future Stock Earnings Visibility

Analysts have nudged their fair value estimate for Reliance Industries slightly higher to about ₹1,699 from roughly ₹1,696, citing updated assumptions for revenue growth, profit margins and future P/E. These changes reflect a more constructive long term earnings outlook, while the discount rate remains unchanged.
POWERINDIA
₹33,965.00
Hitachi Energy India
7D
-7.9%
1Y
70.3%
Narrative Update • Jun 16

POWERINDIA: Elevated P/E Will Constrain Returns Despite Margin Improvement Expectations

Analysts have modestly raised the price target on Hitachi Energy India to ₹20,400 from ₹20,300, citing updated assumptions around revenue growth, profit margins and a slightly higher discount rate, along with a broadly unchanged future P/E multiple. What’s in the News for Hitachi Energy India Hitachi Energy India announced an annual dividend of ₹8.00 per share, with the dividend payable on September 27, 2026, and an ex date and record date of August 21, 2026.
500049
₹406.80
Bharat Electronics
7D
-4.8%
1Y
-2.0%
Narrative Update • Jun 16

500049: Defence Electronics Order Momentum Will Drive Long Term Upside

The analyst fair value estimate for Bharat Electronics has been adjusted slightly lower from ₹493.43 to ₹490.18. Analysts point to updated assumptions around discount rate, revenue growth, profit margin and future P/E to support the revised price target.
ONGC
₹233.10
Oil and Natural Gas
7D
-5.3%
1Y
-4.0%
Narrative Update • Jun 15

ONGC: Future Cash Flows Will Support Dividends As Petrochemical JV Expands

Narrative Update on Oil and Natural Gas The analyst price target for the oil and natural gas sector has been adjusted slightly lower, with fair value moving by ₹4.0 to ₹308.1, as analysts factor in a marginally lower profit margin outlook and a slightly reduced future P/E of 10.19x, while keeping revenue growth and discount rate assumptions broadly unchanged. Analyst Commentary Recent Street research around cyclical and AI linked sectors offers useful context for how analysts are thinking about valuation, growth and execution risk.
INDIGO
₹5,450.00
InterGlobe Aviation
7D
8.5%
1Y
-6.3%