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Indian (NIFTY) Market Analysis & Valuation

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies4939
  • 7D0.03%
  • 3M-2.3%
  • 1Y4.0%
  • YTD-1.9%

The market has stayed flat over the 7 days. Meanwhile, the market is actually up 4.0% over the past year. As for the next few years, earnings are expected to grow by 17% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Indian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 Jan 2026₹468.0t₹185.4t₹18.2t24.3x25.7x2.5x
Thu, 18 Dec 2025₹465.1t₹184.2t₹18.2t25.3x25.6x2.5x
Sat, 15 Nov 2025₹467.5t₹173.3t₹17.6t27.1x26.5x2.7x
Mon, 13 Oct 2025₹462.7t₹179.2t₹17.7t27.7x26.2x2.6x
Wed, 10 Sep 2025₹453.0t₹177.9t₹17.6t28x25.7x2.5x
Fri, 08 Aug 2025₹442.2t₹176.7t₹17.5t28.4x25.3x2.5x
Sun, 06 Jul 2025₹459.3t₹173.4t₹17.2t29.8x26.8x2.6x
Tue, 03 Jun 2025₹443.9t₹173.6t₹17.1t28.6x25.9x2.6x
Thu, 01 May 2025₹420.2t₹170.4t₹16.8t26.3x25x2.5x
Sat, 29 Mar 2025₹408.8t₹169.0t₹16.8t24.9x24.4x2.4x
Mon, 24 Feb 2025₹398.5t₹169.0t₹16.8t26.5x23.8x2.4x
Wed, 22 Jan 2025₹422.1t₹167.9t₹16.4t31.2x25.7x2.5x
Fri, 20 Dec 2024₹448.0t₹167.7t₹16.4t32.8x27.4x2.7x
Sun, 17 Nov 2024₹428.7t₹167.2t₹16.3t31.1x26.2x2.6x
Tue, 15 Oct 2024₹459.5t₹163.1t₹16.0t33.7x28.7x2.8x
Thu, 12 Sep 2024₹455.9t₹162.9t₹16.0t34.2x28.5x2.8x
Sat, 10 Aug 2024₹446.5t₹162.5t₹15.9t34x28.1x2.7x
Mon, 08 Jul 2024₹447.9t₹160.0t₹15.8t34.4x28.4x2.8x
Wed, 05 Jun 2024₹393.2t₹165.1t₹16.6t28.6x23.6x2.4x
Fri, 03 May 2024₹405.3t₹157.1t₹15.2t31.8x26.7x2.6x
Sun, 31 Mar 2024₹382.6t₹154.9t₹14.8t28.7x25.9x2.5x
Tue, 27 Feb 2024₹387.1t₹154.8t₹14.8t31.9x26.2x2.5x
Thu, 25 Jan 2024₹367.0t₹153.4t₹14.4t31x25.5x2.4x
Sat, 23 Dec 2023₹352.7t₹152.3t₹14.2t29.3x24.9x2.3x
Mon, 20 Nov 2023₹323.9t₹152.2t₹14.2t27.7x22.8x2.1x
Wed, 18 Oct 2023₹318.2t₹151.3t₹13.2t28.4x24.2x2.1x
Fri, 15 Sep 2023₹323.6t₹152.3t₹13.4t27.5x24.2x2.1x
Sun, 13 Aug 2023₹306.9t₹151.7t₹13.4t26.5x22.9x2x
Tue, 11 Jul 2023₹296.5t₹150.0t₹12.5t25.9x23.7x2x
Thu, 08 Jun 2023₹286.3t₹150.0t₹12.5t24.9x22.9x1.9x
Sat, 06 May 2023₹271.1t₹146.4t₹12.2t22.2x22.2x1.9x
Mon, 03 Apr 2023₹255.9t₹144.9t₹12.2t20.2x21.1x1.8x
Wed, 01 Mar 2023₹255.0t₹144.7t₹12.2t20.9x21x1.8x
Fri, 27 Jan 2023₹273.6t₹140.9t₹12.0t22.6x22.8x1.9x
Price to Earnings Ratio

22.8x


Total Market Cap: ₹273.6tTotal Earnings: ₹12.0tTotal Revenue: ₹140.9tTotal 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 9.7% 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 Market0.026%
Materials1.89%
Tech1.60%
Financials1.15%
Energy0.54%
Utilities-0.18%
Consumer Staples-0.51%
Telecom-0.84%
Real Estate-1.31%
Consumer Discretionary-1.51%
Healthcare-1.72%
Industrials-1.93%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.7%, which is higher than its past year's earnings growth of 19.2% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.7x.
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 19% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.0% 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
INFY Infosys₹1.68k5.3%
+₹345.3b		-7.3%PE23.3xTech
SBIN State Bank of India₹1.04k2.3%
+₹214.6b		33.3%PB1.7xFinancials
VEDL Vedanta₹674.807.6%
+₹185.3b		46.4%PE21.9xMaterials
ICICIAMC ICICI Prudential Asset Management₹2.92k11.1%
+₹144.7b		n/aPE44.8xFinancials
500188 Hindustan Zinc₹661.205.4%
+₹142.0b		42.1%PE26.4xMaterials
See more

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TECHM
₹1,718.30
Tech Mahindra
7D
8.3%
1Y
2.6%
VEDL
₹674.80
Vedanta
7D
7.6%
1Y
46.4%

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ICICIBANK
₹1,380.60
ICICI Bank
7D
-2.3%
1Y
12.0%
RELIANCE
₹1,413.60
Reliance Industries
7D
-4.7%
1Y
8.3%
507685
₹246.00
Wipro
7D
-6.5%
1Y
-18.0%
500510
₹3,867.40
Larsen & Toubro
7D
-3.8%
1Y
7.8%
INFY
₹1,681.20
Infosys
7D
5.3%
1Y
-7.3%

Infosys Limited Just Missed Earnings - But Analysts Have Updated Their Models

Jan 17
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SUNPHARMA
₹1,675.40
Sun Pharmaceutical Industries
7D
-3.5%
1Y
-5.8%
ICICIAMC
₹2,922.10
ICICI Prudential Asset Management
7D
11.1%
1Y
n/a
HCLTECH
₹1,716.80
HCL Technologies
7D
3.0%
1Y
-4.4%
TCS
₹3,163.60
Tata Consultancy Services
7D
-2.3%
1Y
-22.4%
500188
₹661.20
Hindustan Zinc
7D
5.4%
1Y
42.1%
SBIN
₹1,038.40
State Bank of India
7D
2.3%
1Y
33.3%

SBIN: Board Changes And Subsidiary Stake Sale Will Shape Future Earnings

Analysts have lifted their price target for State Bank of India by about ₹24, reflecting slightly different assumptions on the discount rate, revenue growth, profit margins and future P/E multiples in their updated models. What's in the News Ravi Ranjan has been appointed as Managing Director of State Bank of India, with responsibility for Risk, Compliance, and the Stressed Assets Resolution Group, effective from December 15, 2025, until his superannuation on September 30, 2028, or earlier if ordered (company filing).
LTIM
₹6,407.00
LTIMindtree
7D
6.8%
1Y
10.0%

LTIM: Future Performance Will Reflect AI Partnerships While Remaining Fairly Valued

Analysts have raised their price target on LTIMindtree to ₹6,087.68 from ₹5,867.44, citing small adjustments to fair value estimates, the discount rate, revenue growth, profit margin, and future P/E assumptions in their updated models. What's in the News A board meeting is scheduled for January 19, 2026 to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's limited review reports (Board Meeting).
LICI
₹809.75
Life Insurance Corporation of India
7D
-2.7%
1Y
-5.7%
532454
₹2,008.55
Bharti Airtel
7D
-1.7%
1Y
22.4%

532454: Network Expansion And API Monetisation Will Likely Support Balanced Outlook

Analysts have nudged their fair value estimate for Bharti Airtel slightly higher to ₹2,319.74 from ₹2,298.76, citing updated assumptions that combine a lower revenue growth outlook with a firmer profit margin and a broadly steady future P/E multiple. What's in the News Bharti Airtel launched "Airtel Cartoon Network Classics" on Airtel Digital TV in partnership with Warner Bros.