Analysis Article • May 08
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Indian (NIFTY) Market Analysis & Valuation
UpdatedMay 09, 2026
DataAggregated Company Financials
Companies4995
- 7D2.1%
- 3M0.7%
- 1Y8.1%
- YTD-1.4%
Over the last 7 days, the market has risen 2.1%, driven by gains of 3.7% in the Industrials sector. The market is up 8.1% over the last 12 months. Looking forward, earnings are forecast to grow by 17% annually.
Market Valuation and Performance
Has the Indian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 09 May 2026 | ₹472.7t | ₹193.4t | ₹19.0t | 24.6x | 24.9x | 2.4x |
| Mon, 06 Apr 2026 | ₹421.9t | ₹191.3t | ₹18.7t | 20.7x | 22.5x | 2.2x |
| Wed, 04 Mar 2026 | ₹456.1t | ₹191.0t | ₹18.7t | 22x | 24.4x | 2.4x |
| Fri, 30 Jan 2026 | ₹459.8t | ₹186.9t | ₹18.4t | 23.2x | 25x | 2.5x |
| Sun, 28 Dec 2025 | ₹472.9t | ₹184.3t | ₹18.2t | 25.4x | 25.9x | 2.6x |
| Tue, 25 Nov 2025 | ₹462.7t | ₹173.7t | ₹17.6t | 25.8x | 26.3x | 2.7x |
| Thu, 23 Oct 2025 | ₹470.2t | ₹179.8t | ₹17.8t | 27.9x | 26.4x | 2.6x |
| Sat, 20 Sep 2025 | ₹465.0t | ₹178.0t | ₹17.6t | 28.4x | 26.4x | 2.6x |
| Mon, 18 Aug 2025 | ₹444.5t | ₹177.7t | ₹17.7t | 27.3x | 25.2x | 2.5x |
| Wed, 16 Jul 2025 | ₹457.9t | ₹173.6t | ₹17.2t | 30x | 26.7x | 2.6x |
| Fri, 13 Jun 2025 | ₹448.4t | ₹173.4t | ₹17.1t | 29.6x | 26.1x | 2.6x |
| Sun, 11 May 2025 | ₹412.9t | ₹170.7t | ₹17.0t | 25.5x | 24.3x | 2.4x |
| Tue, 08 Apr 2025 | ₹384.8t | ₹169.0t | ₹16.8t | 24.5x | 22.9x | 2.3x |
| Thu, 06 Mar 2025 | ₹388.9t | ₹169.0t | ₹16.8t | 25x | 23.2x | 2.3x |
| Sat, 01 Feb 2025 | ₹419.1t | ₹163.3t | ₹16.3t | 29.3x | 25.7x | 2.6x |
| Mon, 30 Dec 2024 | ₹440.6t | ₹167.9t | ₹16.4t | 32.4x | 26.9x | 2.6x |
| Wed, 27 Nov 2024 | ₹438.7t | ₹167.5t | ₹16.3t | 31.3x | 26.8x | 2.6x |
| Fri, 25 Oct 2024 | ₹439.7t | ₹164.7t | ₹16.2t | 32.6x | 27.2x | 2.7x |
| Sun, 22 Sep 2024 | ₹468.4t | ₹163.0t | ₹16.0t | 34.3x | 29.3x | 2.9x |
| Tue, 20 Aug 2024 | ₹450.3t | ₹162.7t | ₹16.0t | 32.9x | 28.2x | 2.8x |
| Thu, 18 Jul 2024 | ₹453.3t | ₹160.2t | ₹15.8t | 34.1x | 28.7x | 2.8x |
| Sat, 15 Jun 2024 | ₹432.9t | ₹160.1t | ₹15.8t | 32.3x | 27.4x | 2.7x |
| Mon, 13 May 2024 | ₹393.5t | ₹157.8t | ₹15.3t | 30.9x | 25.6x | 2.5x |
| Wed, 10 Apr 2024 | ₹395.5t | ₹154.9t | ₹14.8t | 31.1x | 26.8x | 2.6x |
| Fri, 08 Mar 2024 | ₹386.8t | ₹154.8t | ₹14.8t | 30.5x | 26.2x | 2.5x |
| Sun, 04 Feb 2024 | ₹378.4t | ₹154.5t | ₹14.7t | 31.9x | 25.7x | 2.4x |
| Tue, 02 Jan 2024 | ₹361.3t | ₹152.3t | ₹14.2t | 29.9x | 25.5x | 2.4x |
| Thu, 30 Nov 2023 | ₹329.8t | ₹152.3t | ₹14.2t | 27.9x | 23.2x | 2.2x |
| Sat, 28 Oct 2023 | ₹302.7t | ₹152.1t | ₹13.5t | 27.5x | 22.4x | 2x |
| Mon, 25 Sep 2023 | ₹319.3t | ₹152.2t | ₹13.4t | 27.4x | 23.8x | 2.1x |
| Wed, 23 Aug 2023 | ₹310.4t | ₹152.2t | ₹13.4t | 26.5x | 23.2x | 2x |
| Fri, 21 Jul 2023 | ₹306.2t | ₹150.6t | ₹12.5t | 26.3x | 24.4x | 2x |
| Sun, 18 Jun 2023 | ₹290.0t | ₹149.9t | ₹12.5t | 25.4x | 23.2x | 1.9x |
| Tue, 16 May 2023 | ₹276.0t | ₹147.5t | ₹12.3t | 22.8x | 22.3x | 1.9x |
Price to Earnings Ratio
22.3x
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 25.4x.
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 9.4% 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 | 2.14% | |
| Healthcare | 4.36% | |
| Real Estate | 3.91% | |
| Industrials | 3.75% | |
| Materials | 3.60% | |
| Consumer Discretionary | 3.44% | |
| Financials | 1.67% | |
| Utilities | 1.09% | |
| Tech | 0.71% | |
| Consumer Staples | 0.66% | |
| Energy | -1.01% | |
| Telecom | -1.58% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings growth of 13.1% per year.
- The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.6x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings growth rate of 24% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 7.1% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics | ₹4.79k | 10.4% +₹300.5b | 6.4% | PE36x | Industrials | |
| M&M Mahindra & Mahindra | ₹3.33k | 7.5% +₹260.0b | 11.7% | PE21.7x | Consumer Discretionary | |
| ADANIPORTS Adani Ports and Special Economic Zone | ₹1.76k | 6.2% +₹237.5b | 34.8% | PE31.7x | Industrials | |
| ADANIGREEN Adani Green Energy | ₹1.36k | 10.5% +₹211.9b | 54.2% | PE135.2x | Utilities | |
| BAJAJ-AUTO Bajaj Auto | ₹10.71k | 7.2% +₹200.5b | 39.4% | PE27.9x | Consumer Discretionary |
