Blog
What the numbers said — fund returns and costs, foreign and domestic flows, index valuations, gold and silver — plus tax, retirement and personal-finance basics, written from the same data the rest of this site shows, with the date on every figure.
Sortino ratios: the same top ten as Sharpe, scaled up
07 Oct 2026
Across 264 diversified equity funds the median 3-year Sortino ratio is 0.53 and 17 exceed 1. Invesco India Mid Cap leads at 1.30; the order is almost Sharpe's.
Fund ReturnsInvesting Strategy
Tata, Mahindra, Aditya Birla group indices in 2026
07 Oct 2026
Since 31 December 2025 NSE's Mahindra Group index is down 17.1% and Tata Group 16.5%, while Aditya Birla Group is up 1.4%. The Nifty 50 is down 12.8%.
Market RecapInvesting Strategy
Ultra-short and low duration funds: 48 funds compared
07 Oct 2026
To 6 October 2026 the median ultra-short fund returned 6.52% in a year and the median low duration fund 6.17%. Over three years the order flips.
Debt & Hybrid FundsFund Returns
G-Sec indices by maturity: overnight beat 10-year in 2026
06 Oct 2026
NSE's G-Sec indices have returned 0.7% to 3.9% so far in 2026, and the overnight rate index beat all of them. Over ten years, the 4-8 year index led at 7.0%.
Debt & Hybrid FundsMarket Recap
Nifty Metal P/E at 16.4: profits up 46% in a year
06 Oct 2026
Nifty Metal closed at a P/E of 16.39 on 5 October 2026, below its 18.74 median since 2021, even though the index is up 23.8% in a year. Profits rose faster.
Market ValuationsSectors
Nifty MNC vs Nifty PSE: 12.7% and 8.9% a year since 2012
06 Oct 2026
Since 2012 the Nifty MNC index returned 12.7% a year and the Nifty PSE 8.9%, against 10.2% for the Nifty 50. One P/E is 34.6 and the other 10.5.
Market ValuationsInvesting Strategy
Nifty Next 50 vs Nifty 50: 7 wins in 13 years
06 Oct 2026
Since 2012 the Nifty Next 50 has grown 5.6 times and the Nifty 50 3.8 times, yet the Next 50 won only 7 of 13 calendar years. It now trades at a lower P/E.
Fund ReturnsInvesting Strategy
Nifty Pharma P/E at 40.4: near its highest since 2021
06 Oct 2026
Nifty Pharma closed at a P/E of 40.40 on 5 October 2026, higher than on 1,310 of 1,362 sessions since March 2021, while the Nifty 50 is down 13.7% this year.
Market ValuationsSectors
Nifty Realty P/E at 35.6: 27% off peak, profits up 16%
06 Oct 2026
Nifty Realty closed at a P/E of 35.56 on 5 October 2026, below its 45.81 median since 2022. The index is 27% under its 2024 record as earnings kept rising.
Market ValuationsSectors
Alpha: 335 of 443 equity funds beat their benchmark's risk
06 Oct 2026
Seventy-six percent of Direct equity funds have positive three-year alpha. Large and mid cap funds are 27 of 29, multi cap 23 of 24 and ELSS 31 of 48.
Fund ReturnsInvesting Strategy
PSU banks vs private banks: level after nine years
06 Oct 2026
From the end of 2016 to October 2026 the Nifty PSU Bank index rose 2.69 times and the Nifty Private Bank 2.66 times. Private led to 2020, PSU banks since.
SectorsMarket Valuations
Upside vs downside capture: which equity funds gave more
06 Oct 2026
Across 9 equity categories the average fund caught 90% to 112% of its benchmark's up months and 79% to 98% of its down months. Small cap lost least.
Fund ReturnsInvesting Strategy
Worst fall in three years: 12 equity categories ranked
06 Oct 2026
The median large cap fund fell 16.4% peak to trough in three years, the median small cap fund 24.1%. Only 24 of 420 equity funds fell less than 15%.
Fund ReturnsInvesting StrategyArbitrage funds: 26 of 34 beat liquid funds in a year
05 Oct 2026
The median arbitrage fund returned 6.60% in the year to 1 October 2026 against 6.47% for liquid funds, and none lost money over three months.
Debt & Hybrid FundsFund Returns
Credit risk funds: 7.55% median, 17.20% at the top
05 Oct 2026
To 1 October 2026 the median credit risk fund returned 7.55% in a year, against 4.78% for corporate bond funds. The 12 funds ranged from 5.58% to 17.20%.
Debt & Hybrid FundsFund ReturnsGilt funds: 22 of 23 fell over the last three months
05 Oct 2026
To 1 October 2026 the median gilt fund lost 0.84% in three months and made 2.45% in a year, against 6.47% for liquid funds. 23 funds compared.
Debt & Hybrid FundsFund ReturnsManufacturing funds beat infrastructure funds by 6 points
05 Oct 2026
In the year to 1 October 2026 the median manufacturing fund returned 10.44% and the median infrastructure fund 4.13%. Five industrial themes compared.
SectorsFund ReturnsLow-volatility indices lost 3 points less than the Nifty 50
05 Oct 2026
In 2026 to 1 October the Nifty Low Volatility 50 fell 10.98% against 14.19% for the Nifty 50. Over three years it gained 7.54% a year to the Nifty's 4.52%.
Investing StrategyMarket RecapMoney market funds: 25 funds, 0.41 points apart
05 Oct 2026
Over the year to 1 October 2026 the 25 money market funds returned between 6.35% and 6.76%, a median of 6.52%, against 6.47% for liquid funds.
Debt & Hybrid FundsFund Returns
Nifty Auto P/E at 29.5: mid-range, but P/B near a low
05 Oct 2026
Nifty Auto closed at a P/E of 29.50 on 1 October 2026, close to its median since 2022, while its P/B of 3.97 was lower on only one session since 2021.
Market ValuationsSectors