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Indian (NIFTY) Market Analysis & Valuation

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies4981
  • 7D-2.1%
  • 3M-12.6%
  • 1Y-2.6%
  • YTD-11.8%

Over the last 7 days, the market has dropped 2.1%, driven by a loss of 4.0% in the Financials sector. In the last 12 months the market has been flat overall. 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
Fri, 03 Apr 2026₹421.9t₹191.2t₹18.7t20.7x22.5x2.2x
Sun, 01 Mar 2026₹463.2t₹191.0t₹18.7t22.5x24.8x2.4x
Tue, 27 Jan 2026₹451.4t₹186.2t₹18.4t23x24.5x2.4x
Thu, 25 Dec 2025₹473.9t₹184.3t₹18.2t25.6x26x2.6x
Sat, 22 Nov 2025₹465.6t₹173.7t₹17.6t26.4x26.5x2.7x
Mon, 20 Oct 2025₹466.2t₹179.9t₹17.8t27.6x26.2x2.6x
Wed, 17 Sep 2025₹461.8t₹177.9t₹17.6t28.2x26.2x2.6x
Fri, 15 Aug 2025₹444.0t₹177.6t₹17.6t27.4x25.2x2.5x
Sun, 13 Jul 2025₹454.8t₹173.6t₹17.2t29.6x26.5x2.6x
Tue, 10 Jun 2025₹453.5t₹173.4t₹17.1t29.5x26.4x2.6x
Thu, 08 May 2025₹419.9t₹170.5t₹16.9t25.9x24.8x2.5x
Sat, 05 Apr 2025₹399.1t₹169.0t₹16.8t25.5x23.8x2.4x
Mon, 03 Mar 2025₹380.1t₹169.1t₹16.8t24.8x22.6x2.2x
Wed, 29 Jan 2025₹404.2t₹162.7t₹16.3t28.7x24.8x2.5x
Fri, 27 Dec 2024₹440.3t₹167.9t₹16.4t32.3x26.9x2.6x
Sun, 24 Nov 2024₹430.9t₹167.5t₹16.3t30.9x26.4x2.6x
Tue, 22 Oct 2024₹451.9t₹164.2t₹16.1t33.7x28x2.8x
Thu, 19 Sep 2024₹464.4t₹163.0t₹16.0t34.3x29x2.8x
Sat, 17 Aug 2024₹447.6t₹162.7t₹16.0t32.5x28x2.8x
Mon, 15 Jul 2024₹450.4t₹160.2t₹15.8t34x28.5x2.8x
Wed, 12 Jun 2024₹423.4t₹160.1t₹15.8t31.1x26.8x2.6x
Fri, 10 May 2024₹390.3t₹157.0t₹15.2t30.6x25.7x2.5x
Sun, 07 Apr 2024₹395.0t₹154.9t₹14.8t31.5x26.8x2.5x
Tue, 05 Mar 2024₹389.1t₹154.8t₹14.8t31.4x26.4x2.5x
Thu, 01 Feb 2024₹375.5t₹154.0t₹14.6t31.9x25.6x2.4x
Sat, 30 Dec 2023₹359.9t₹152.3t₹14.2t29.7x25.4x2.4x
Mon, 27 Nov 2023₹325.2t₹152.2t₹14.2t27.8x22.9x2.1x
Wed, 25 Oct 2023₹307.9t₹151.9t₹13.4t27.5x23x2x
Fri, 22 Sep 2023₹319.3t₹152.2t₹13.4t27.3x23.8x2.1x
Sun, 20 Aug 2023₹305.5t₹152.1t₹13.3t26x22.9x2x
Tue, 18 Jul 2023₹305.4t₹150.1t₹12.5t26.3x24.5x2x
Thu, 15 Jun 2023₹287.6t₹149.9t₹12.5t25.3x23x1.9x
Sat, 13 May 2023₹275.0t₹146.9t₹12.3t22.7x22.4x1.9x
Mon, 10 Apr 2023₹260.0t₹144.9t₹12.2t21.3x21.4x1.8x
Price to Earnings Ratio

21.4x


Total Market Cap: ₹260.0tTotal Earnings: ₹12.2tTotal Revenue: ₹144.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.3x202420252026
Current Market PE
  • Investors are pessimistic on the Indian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 22.5x which is lower than its 3-year average PE of 25.3x.
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 Market-2.08%
Tech1.63%
Materials-0.91%
Consumer Staples-0.92%
Utilities-1.04%
Industrials-1.55%
Telecom-2.17%
Energy-2.28%
Real Estate-2.30%
Consumer Discretionary-2.43%
Healthcare-2.93%
Financials-4.00%
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 39.7x.
    • 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 12.0% 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 17% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 6.4% 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
DMART Avenue Supermarts₹4.36k11.5%
+₹299.2b		4.9%PE99.3xConsumer Staples
TCS Tata Consultancy Services₹2.45k3.1%
+₹265.2b		-28.0%PE18.6xTech
ONGC Oil and Natural Gas₹287.206.3%
+₹213.9b		18.0%PE9.5xEnergy
ADANIPOWER Adani Power₹159.974.1%
+₹121.9b		51.2%PE28.1xUtilities
500440 Hindalco Industries₹917.205.6%
+₹108.1b		40.5%PE12.7xMaterials
See more

Market Insights

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Latest News

VEDL
₹687.65
Vedanta
7D
5.9%
1Y
71.3%

VEDL: Dividend Payouts And Gupta Power Bid Will Support Bullish Repricing

Analysts have kept Vedanta's fair value estimate steady at ₹808.77, with only marginal tweaks to assumptions such as discount rate, growth, margins, and future P/E. These changes feed into a broadly unchanged price target narrative.
532454
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Bharti Airtel
7D
-2.9%
1Y
2.7%

532454: Digital Financial Services Arm Will Support Expansion Of New Connectivity Services

Analysts have nudged their fair value estimate for Bharti Airtel slightly lower from ₹2,351.47 to ₹2,347.63, reflecting small refinements to revenue growth, profit margin and forward P/E assumptions. What's in the News Bharti Airtel has rolled out more than 2,750 new 5G sites across 36 districts in Gujarat over the past 12 months, extending high speed coverage to over 41 million customers and introducing an unlimited data option in its ₹399 recharge pack (Business Expansions).
ADANIPOWER
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Adani Power
7D
3.9%
1Y
50.2%
ICICIBANK
₹1,215.80
ICICI Bank
7D
-1.5%
1Y
-8.9%

ICICIBANK: Future GST Dispute Resolutions Will Support Bullish Case

Analysts have made a small cut to the ICICI Bank price target, trimming it by about ₹5 to reflect slightly adjusted fair value, discount rate, growth and margin assumptions, while keeping the forward P/E view largely consistent. What's in the News GST order from Maharashtra authority raises a tax demand of ₹3,843,353,972 with an equivalent penalty and applicable interest on services linked to specified minimum balance accounts.
LICI
₹734.85
Life Insurance Corporation of India
7D
-4.0%
1Y
-7.2%

LICI: Future Government Stake Dilution Will Unlock Undervalued Upside Potential

Analysts have trimmed their price target on Life Insurance Corporation of India from about ₹1,110 to roughly ₹1,080, reflecting updated assumptions that combine higher revenue growth expectations with slightly lower profit margins and a modestly reduced forward P/E. What's in the News The government is considering a further public offering of LIC shares in the next financial year, with Financial Services Secretary M Nagaraju stating that LIC stake dilution will be handled gradually and in coordination with DIPAM (Financial Services Secretary briefing).
SUNPHARMA
₹1,693.60
Sun Pharmaceutical Industries
7D
-5.6%
1Y
-0.9%

SUNPHARMA: Obesity And Diabetes Launches And Disciplined Mergers Will Guide Balanced Outlook

Analysts have trimmed their price target for Sun Pharmaceutical Industries slightly to around ₹1,961 from about ₹1,976, reflecting updated assumptions that keep revenue growth, profit margin and future P/E expectations broadly similar to prior estimates. What's in the News Launch of semaglutide injections Noveltreat and Sematrinity in India for chronic weight management and type 2 diabetes, with weekly therapy costs reported in the INR 750 to INR 2,000 range to support affordability across multiple dose strengths (Key Developments).
INFY
₹1,300.80
Infosys
7D
2.4%
1Y
-10.4%

INFY: AI Services Mix Reset Will Support 2026 IT Spending Turnaround

Infosys' updated analyst price target edges lower, with fair value moving from ₹1,724.32 to ₹1,667.80 as analysts factor in slightly softer revenue growth assumptions, a modestly lower future P/E, and higher perceived risk from AI driven shifts in the IT services mix. Analyst Commentary Recent Street research on Infosys reflects a mixed setup, with some analysts trimming expectations and others adjusting targets higher while staying cautious on execution and the evolving role of AI in IT services.
ULTRACEMCO
₹10,620.00
UltraTech Cement
7D
-3.9%
1Y
-7.6%

ULTRACEMCO: Expanding Capacity Will Drive Future Upside Despite Ongoing GST Disputes

The analyst fair value estimate for UltraTech Cement has moved slightly from ₹14,090.92 to ₹14,044.87, with the adjustment linked to modest tweaks in the discount rate, revenue growth, profit margin and future P/E assumptions as analysts refine their models. What's in the News UltraTech Cement received multiple GST orders from state and central authorities in Maharashtra, Tamil Nadu and Haryana related to alleged ineligible or excess Input Tax Credit and supplies to customers later deemed non existent, with combined tax demands, interest and penalties across various years that the company plans to contest, while indicating it does not expect a material financial impact.
TCS
₹2,450.70
Tata Consultancy Services
7D
2.5%
1Y
-25.7%

TCS: AI Collaborations And Special Dividend Will Support Future Upside

Analysts have reduced their price target for Tata Consultancy Services by about ₹100 to reflect slightly softer revenue growth expectations, a marginally lower discount rate, and a small uplift in projected profit margins and future P/E multiples. What's in the News TCS declared a special dividend of ₹46 per equity share, with a record date of January 17, 2026, and dividend payout scheduled for February 3, 2026.
NTPC
₹359.65
NTPC
7D
-4.3%
1Y
2.6%

NTPC: Dividend Strength And Gasification Projects Will Support Long Term Appeal

Analysts have lifted their price target for NTPC from ₹413.28 to ₹424.46, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What's in the News NTPC signed an MoU with Gujarat Mineral Development Corporation to explore coal and lignite gasification projects in Odisha and Gujarat.
500440
₹917.20
Hindalco Industries
7D
5.8%
1Y
52.9%

500440: Odisha Aluminium Expansion Will Drive Future Returns And Margin Resilience

Analysts have nudged their price target for Hindalco Industries slightly higher, from ₹940.18 to ₹945.00. They cited refreshed assumptions on discount rate, revenue growth, profit margin and future P/E multiples.
500114
₹4,097.75
Titan
7D
2.9%
1Y
33.2%

500114: Upcoming Board Decisions Will Shape Confidence In Future Returns

Analysts have nudged their price target for Titan slightly lower to around ₹4,794 from about ₹4,806, citing a small adjustment to fair value assumptions and a marginally lower discount rate, while keeping revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Titan has scheduled a Special or Extraordinary Shareholders Meeting on Mar 23, 2026, via postal ballot in India to consider the appointment of Ms. Sandhya Venugopal Sharma as a Director (Key Developments).
500049
₹421.50
Bharat Electronics
7D
4.1%
1Y
50.5%

500049: Defence Electronics Order Wins And Dividend Will Support Long Term Upside

Analysts have kept the price target for Bharat Electronics steady at about ₹485.56 per share, with only marginal fine tuning to inputs such as the discount rate and assumed future P/E. This reflects largely unchanged views on the stock’s valuation drivers.
LGEINDIA
₹1,318.80
LG Electronics India
7D
-14.1%
1Y
n/a
DMART
₹4,362.40
Avenue Supermarts
7D
11.8%
1Y
8.0%

Avenue Supermarts (NSE:DMART) Is Experiencing Growth In Returns On Capital

Jan 26
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