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Indian (NIFTY) Market Analysis & Valuation

UpdatedAug 27, 2026
DataAggregated Company Financials
Companies5116
  • 7D0.8%
  • 3M2.8%
  • 1Y3.6%
  • YTD0.8%

The market has been flat over the last week. As for the longer term, the market has risen 3.6% in the past 12 months. 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
Thu, 27 Aug 2026₹486.5t₹207.1t₹20.1t22.4x24.2x2.3x
Sat, 25 Jul 2026₹469.6t₹199.5t₹19.6t23.5x24x2.4x
Mon, 22 Jun 2026₹475.4t₹197.4t₹19.5t23.8x24.4x2.4x
Wed, 20 May 2026₹459.0t₹195.5t₹19.4t23.1x23.7x2.3x
Fri, 17 Apr 2026₹459.9t₹191.4t₹18.7t23.3x24.5x2.4x
Sun, 15 Mar 2026₹429.5t₹191.1t₹18.7t21.2x23x2.2x
Tue, 10 Feb 2026₹472.8t₹188.6t₹18.9t23.8x25x2.5x
Thu, 08 Jan 2026₹479.9t₹184.3t₹18.2t25.5x26.3x2.6x
Sat, 06 Dec 2025₹469.7t₹184.0t₹18.2t25.6x25.8x2.6x
Mon, 03 Nov 2025₹469.8t₹180.4t₹18.0t27.9x26.1x2.6x
Wed, 01 Oct 2025₹450.6t₹178.8t₹17.6t27.5x25.6x2.5x
Fri, 29 Aug 2025₹444.2t₹177.8t₹17.6t27.4x25.2x2.5x
Sun, 27 Jul 2025₹449.6t₹174.5t₹17.4t29.3x25.8x2.6x
Tue, 24 Jun 2025₹446.0t₹173.3t₹17.1t28.9x26x2.6x
Thu, 22 May 2025₹437.6t₹171.6t₹17.0t27.5x25.7x2.5x
Sat, 19 Apr 2025₹416.8t₹168.9t₹16.8t26.7x24.9x2.5x
Mon, 17 Mar 2025₹387.1t₹169.0t₹16.8t24.8x23.1x2.3x
Wed, 12 Feb 2025₹403.5t₹164.1t₹16.7t27.7x24.2x2.5x
Fri, 10 Jan 2025₹433.4t₹167.9t₹16.4t31.8x26.5x2.6x
Sun, 08 Dec 2024₹457.1t₹167.6t₹16.3t32.8x28x2.7x
Tue, 05 Nov 2024₹440.0t₹166.4t₹16.1t33x27.3x2.6x
Thu, 03 Oct 2024₹471.5t₹163.0t₹16.0t34.3x29.5x2.9x
Sat, 31 Aug 2024₹460.8t₹162.8t₹16.0t34.3x28.8x2.8x
Mon, 29 Jul 2024₹453.0t₹165.5t₹18.5t34.4x24.5x2.7x
Wed, 26 Jun 2024₹433.9t₹160.1t₹15.8t32.7x27.5x2.7x
Fri, 24 May 2024₹416.5t₹163.6t₹16.5t31.3x25.3x2.5x
Sun, 21 Apr 2024₹389.3t₹155.2t₹14.8t30.7x26.3x2.5x
Tue, 19 Mar 2024₹374.4t₹154.8t₹14.8t28.5x25.3x2.4x
Thu, 15 Feb 2024₹379.7t₹154.9t₹14.8t31x25.6x2.5x
Sat, 13 Jan 2024₹369.0t₹152.4t₹14.2t31.5x26.1x2.4x
Mon, 11 Dec 2023₹345.5t₹152.2t₹14.1t28.7x24.4x2.3x
Wed, 08 Nov 2023₹315.3t₹152.3t₹14.0t27.9x22.5x2.1x
Fri, 06 Oct 2023₹320.4t₹152.3t₹13.4t27.7x23.9x2.1x
Sun, 03 Sep 2023₹313.9t₹152.3t₹13.4t27.3x23.4x2.1x
Price to Earnings Ratio

23.4x


Total Market Cap: ₹313.9tTotal Earnings: ₹13.4tTotal Revenue: ₹152.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.6x202420252026
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 25.6x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 14% per year over the last three years.
  • Revenues for these companies have grown 11% 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 Market0.83%
Materials2.57%
Financials1.53%
Real Estate1.24%
Healthcare1.10%
Consumer Discretionary0.62%
Industrials0.39%
Utilities0.38%
Tech-0.22%
Consumer Staples-0.25%
Energy-0.42%
Telecom-0.72%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3%, which is higher than its past year's earnings growth of 19.6% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 28% 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 11% 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₹627.0013.2%
+₹308.4b		45.8%PE15.5xMaterials
500247 Kotak Mahindra Bank₹416.206.2%
+₹240.2b		5.9%PB2.3xFinancials
ICICIBANK ICICI Bank₹1.43k2.0%
+₹200.9b		0.9%PB2.7xFinancials
512599 Adani Enterprises₹3.13k4.9%
+₹197.6b		37.5%PE58.9xIndustrials
IDBI IDBI Bank₹94.7517.4%
+₹150.9b		3.1%PB1.4xFinancials
See more

Market Insights

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Latest News

IDBI
₹94.75
IDBI Bank
7D
17.4%
1Y
3.1%
500188
₹627.00
Hindustan Zinc
7D
13.2%
1Y
45.8%
Narrative Update • Aug 24

500188: Slowing Revenue And Margin Pressure Will Weigh On Future Earnings

Analysts have trimmed their price target on Hindustan Zinc from ₹520.00 to ₹480.00, reflecting lower revenue growth expectations, a slightly softer profit margin outlook and a reduced future P/E assumption in their models. What’s in the News for Hindustan Zinc Hindustan Zinc plans a leadership transition at the top.
ICICIBANK
₹1,430.00
ICICI Bank
7D
2.0%
1Y
0.9%
DIVISLAB
₹9,025.00
Divi's Laboratories
7D
5.4%
1Y
45.8%
Narrative Update • Aug 20

DIVISLAB: Upcoming June Quarter Results Will Support Bullish Outlook

Analysts have adjusted their price target on Divi's Laboratories from about ₹8,795 to about ₹10,953, reflecting updated views on its fair value, discount rate, revenue growth and profit margin assumptions, as well as the P/E they apply to the stock. What’s in the News for Divi's Laboratories Divi's Laboratories has scheduled a Board meeting on August 1, 2026.
MUTHOOTFIN
₹3,206.90
Muthoot Finance
7D
12.2%
1Y
20.0%
Narrative Update • Aug 19

MUTHOOTFIN: CEO Transition And Margin Outlook Will Support Future Upside

Analysts have reduced their price target for Muthoot Finance from about ₹3,740 to around ₹3,390. This reflects updated views on slightly lower revenue growth expectations, a modestly adjusted discount rate, and a marginally higher profit margin and future P/E assumption.
TCS
₹2,270.00
Tata Consultancy Services
7D
-0.8%
1Y
-28.1%
Narrative Update • Aug 18

TCS: JFK Digital Terminal Partnership Will Drive Future ReRating Potential

Analysts now set a revised fair value price target for Tata Consultancy Services at ₹3,125, compared with the prior ₹3,228, reflecting updated views on discount rate assumptions, revenue, profit margin expectations, and future P/E multiples. What's in the News F1R3FLY Limited joined the Tata Consultancy Services Alliances and Partnerships ecosystem, with both companies working together to deploy F1R3FLY's concurrent computing on the TCS SovereignSecure Cloud to address enterprise cloud data security and compute infrastructure needs.
512599
₹3,125.00
Adani Enterprises
7D
4.9%
1Y
37.5%
Narrative Update • Aug 13

512599: Future Low Carbon Chemicals Entry Will Drive Upside Potential

Analysts have raised their fair value estimate for Adani Enterprises from ₹2,800 to ₹3,638, citing updated assumptions that incorporate slightly revised discount rates, moderated revenue growth expectations, higher profit margin forecasts, and a recalibrated future P/E multiple. What’s in the News for Adani Enterprises Adani Enterprises plans a long term partnership with Dioxycle to develop low carbon chemical production in India, starting with a pilot facility that converts captured carbon dioxide and renewable electricity into formic acid, with potential expansion into a wider range of chemicals across energy, materials, packaging and manufacturing sectors.
HAL
₹4,865.50
Hindustan Aeronautics
7D
-3.0%
1Y
11.0%
Narrative Update • Aug 13

HAL: Elevated P/E And Modest Assumption Tweaks Will Likely Cap Returns

Analysts have raised their price target for Hindustan Aeronautics to about ₹3,950 from roughly ₹3,686. This change reflects updated assumptions for slightly higher revenue growth, a marginally stronger profit margin, and a modestly higher future P/E multiple.
HCLTECH
₹1,298.50
HCL Technologies
7D
-2.0%
1Y
-13.0%
Narrative Update • Aug 12

HCLTECH: AI Data Centres And New Deals Will Support Steady Outlook

Analysts have reduced their fair value estimate for HCL Technologies from about ₹1,551 to around ₹1,517. This reflects updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples.
ENRIN
₹3,325.90
Siemens Energy India
7D
-4.5%
1Y
-0.3%
Analysis Article • Aug 10

Siemens Energy India Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Siemens Energy India Limited ( NSE:ENRIN ) just released its quarterly report and things are looking bullish. Siemens...
ONGC
₹232.21
Oil and Natural Gas
7D
-2.4%
1Y
-0.8%
500228
₹1,334.05
JSW Steel
7D
4.1%
1Y
27.4%
532454
₹1,905.00
Bharti Airtel
7D
-1.0%
1Y
-0.02%
DMART
₹3,826.90
Avenue Supermarts
7D
-3.5%
1Y
-18.9%
RELIANCE
₹1,298.00
Reliance Industries
7D
-1.0%
1Y
-6.3%
Analysis Article • Jul 21

Results: Reliance Industries Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

Investors in Reliance Industries Limited ( NSE:RELIANCE ) had a good week, as its shares rose 2.0% to close at ₹1,323...
500247
₹416.20
Kotak Mahindra Bank
7D
6.2%
1Y
5.9%