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Indian (NIFTY) Market Analysis & Valuation

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies4943
  • 7D-3.6%
  • 3M-6.2%
  • 1Y2.6%
  • YTD-5.4%

Over the last 7 days, the market has dropped 3.6%, driven by losses in every sector, especially the Financials sector. Although the market performance has been flat over the past year. 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
Mon, 26 Jan 2026₹451.4t₹186.2t₹18.4t23.1x24.6x2.4x
Wed, 24 Dec 2025₹474.6t₹184.3t₹18.2t25.5x26x2.6x
Fri, 21 Nov 2025₹469.8t₹173.7t₹17.6t26.5x26.7x2.7x
Sun, 19 Oct 2025₹466.2t₹180.1t₹17.8t27.7x26.2x2.6x
Tue, 16 Sep 2025₹458.7t₹177.9t₹17.6t27.9x26x2.6x
Thu, 14 Aug 2025₹444.7t₹177.5t₹17.6t27.9x25.3x2.5x
Sat, 12 Jul 2025₹458.2t₹173.4t₹17.2t29.6x26.7x2.6x
Mon, 09 Jun 2025₹449.7t₹173.4t₹17.1t29.1x26.2x2.6x
Wed, 07 May 2025₹417.8t₹170.1t₹16.9t25.9x24.7x2.5x
Fri, 04 Apr 2025₹409.0t₹169.0t₹16.8t25.9x24.4x2.4x
Sun, 02 Mar 2025₹380.1t₹169.1t₹16.8t24.8x22.6x2.2x
Tue, 28 Jan 2025₹405.4t₹162.7t₹16.3t29.1x24.9x2.5x
Thu, 26 Dec 2024₹439.8t₹167.8t₹16.4t32.3x26.9x2.6x
Sat, 23 Nov 2024₹430.9t₹167.6t₹16.3t30.9x26.4x2.6x
Mon, 21 Oct 2024₹455.0t₹163.5t₹16.1t34.1x28.3x2.8x
Wed, 18 Sep 2024₹466.8t₹162.9t₹16.0t34.4x29.2x2.9x
Fri, 16 Aug 2024₹440.4t₹163.0t₹16.0t32.5x27.5x2.7x
Sun, 14 Jul 2024₹450.4t₹160.2t₹15.8t34x28.5x2.8x
Tue, 11 Jun 2024₹421.6t₹160.0t₹15.8t30.9x26.8x2.6x
Thu, 09 May 2024₹397.7t₹156.8t₹15.2t31.2x26.2x2.5x
Sat, 06 Apr 2024₹394.9t₹154.9t₹14.8t31.5x26.7x2.5x
Mon, 04 Mar 2024₹389.4t₹154.8t₹14.8t31.6x26.4x2.5x
Wed, 31 Jan 2024₹372.6t₹153.8t₹14.6t31.6x25.5x2.4x
Fri, 29 Dec 2023₹358.8t₹152.3t₹14.2t29.6x25.3x2.4x
Sun, 26 Nov 2023₹325.2t₹152.2t₹14.2t27.8x22.9x2.1x
Tue, 24 Oct 2023₹307.9t₹151.8t₹13.4t27.6x23x2x
Thu, 21 Sep 2023₹321.8t₹152.4t₹13.4t27.7x24x2.1x
Sat, 19 Aug 2023₹305.5t₹152.2t₹13.3t26x22.9x2x
Mon, 17 Jul 2023₹303.8t₹150.1t₹12.5t26.1x24.3x2x
Wed, 14 Jun 2023₹287.2t₹149.9t₹12.5t25.2x23x1.9x
Fri, 12 May 2023₹275.3t₹146.8t₹12.3t22.7x22.4x1.9x
Sun, 09 Apr 2023₹260.0t₹144.9t₹12.2t21.2x21.4x1.8x
Tue, 07 Mar 2023₹262.6t₹144.9t₹12.1t21.4x21.6x1.8x
Thu, 02 Feb 2023₹263.8t₹141.9t₹12.0t22.1x22x1.9x
Price to Earnings Ratio

22x


Total Market Cap: ₹263.8tTotal Earnings: ₹12.0tTotal Revenue: ₹141.9tTotal 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 9.5% 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-3.58%
Consumer Staples-1.54%
Materials-2.19%
Telecom-2.37%
Tech-2.96%
Financials-3.35%
Healthcare-3.42%
Energy-4.21%
Consumer Discretionary-4.35%
Industrials-4.69%
Utilities-5.45%
Real Estate-8.57%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.2%, which is higher than its past year's earnings growth of 14.1% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.7x.
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 6.3% 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₹698.859.6%
+₹259.9b		49.9%PE25xMaterials
HINDUNILVR Hindustan Unilever₹2.41k2.1%
+₹126.9b		1.7%PE57.2xConsumer Staples
ASHOKLEY Ashok Leyland₹192.984.7%
+₹51.3b		88.9%PE34.8xIndustrials
500124 Dr. Reddy's Laboratories₹1.24k5.1%
+₹49.7b		0.9%PE18.2xHealthcare
500247 Kotak Mahindra Bank₹422.200.9%
+₹39.6b		11.9%PB2.5xFinancials
See more

Market Insights

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500247
₹422.20
Kotak Mahindra Bank
7D
0.9%
1Y
11.9%
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2.9%
1Y
74.9%

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Eternal
7D
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1Y
20.0%

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ADANIGREEN
₹772.80
Adani Green Energy
7D
-16.9%
1Y
-23.6%

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Analysts have kept their fair value estimate for Adani Green Energy broadly steady at ₹1,263, citing updated views on discount rates, revenue growth, profit margins and future P/E that largely offset one another in their price target work. What's in the News TotalEnergies is preparing to sell up to a 6% stake in Adani Green Energy, with its current holding of almost 19% acquired in 2021 for about $2.5b and now valued at nearly $8b, and is said to be exploring a broader sale of renewable assets in Asia to reduce debt (Key Developments).
ADANIPORTS
₹1,308.40
Adani Ports and Special Economic Zone
7D
-6.7%
1Y
20.9%

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Analysts have made a small upward adjustment to their fair value estimate for Adani Ports and Special Economic Zone to about ₹1,775 per share, reflecting modest tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled for February 3, 2026, to consider and approve standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
500188
₹698.85
Hindustan Zinc
7D
9.6%
1Y
49.9%
500124
₹1,235.15
Dr. Reddy's Laboratories
7D
5.1%
1Y
0.9%

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ASHOKLEY
₹192.98
Ashok Leyland
7D
4.7%
1Y
88.9%

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MEESHO
₹170.31
Meesho
7D
5.0%
1Y
n/a
507685
₹238.35
Wipro
7D
-10.8%
1Y
-25.5%
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₹1,386.10
Reliance Industries
7D
-4.9%
1Y
11.2%

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HINDUNILVR
₹2,409.50
Hindustan Unilever
7D
2.1%
1Y
1.7%
512599
₹1,862.80
Adani Enterprises
7D
-12.8%
1Y
-17.6%
HDFCBANK
₹916.10
HDFC Bank
7D
-1.6%
1Y
11.1%
ICICIBANK
₹1,343.40
ICICI Bank
7D
-4.8%
1Y
11.1%