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.
Multi-cap fund returns: ahead of flexi caps on 3 years
15 May 2026
The median multi-cap fund returned 18.56% a year over three years to 14 May 2026, against 15.38% for flexi caps. Spread, index and same-house comparison.
Fund Returns
Gold-silver ratio falls to 52.85, lowest since January
14 May 2026
On 13 May 2026 one gram of gold bought 52.85 grams of silver, the lowest since January. Only 11 sessions since 2021 have closed lower, all in January 2026.
Gold & Silver
Nifty Auto P/E at 29.4: dear on earnings, cheap on book
13 May 2026
Nifty Auto closed at a P/E of 29.35 on 12 May 2026, above its median since 2023, while its P/B sits near a three-year low. Its earnings fell 14% in a year.
Market ValuationsSectorsLargest mutual fund schemes by AUM, January–March 2026
12 May 2026
SBI Nifty 50 ETF averaged ₹2,10,783 crore in January–March 2026, the largest scheme in India. The top 15, and the 100 schemes that hold half the money.
Fund Industry
Overnight, liquid or money market? May 2026 numbers
11 May 2026
In the year to early May 2026 the median overnight fund returned 5.39%, liquid 6.29% and money market 6.50%. The month-by-month order was far less tidy.
Debt & Hybrid Funds
Mid-cap fund returns in May 2026: back at record highs
08 May 2026
On 7 May 2026, 18 of 33 mid-cap funds closed at a record NAV. The median returned 23.42% a year over three years, yet only 11 of 28 beat the index.
Fund Returns
Nifty 50 P/E at 21.21: a month of rising prices
07 May 2026
The Nifty 50 closed at a P/E of 21.21 on 6 May 2026, up from 20.18 a month earlier. The index rose 5.9% and earnings only 0.8%, so the ratio rose.
Market Valuations
Equity fund scorecard, April 2026: every fund rose
06 May 2026
All 565 equity funds gained in April 2026: the median rose 10.64% and small caps 15.96%. April, year-to-date, 1, 3 and 5-year medians, NAVs to 30 April.
Fund Returns
New mutual funds in April 2026: 11 launches
06 May 2026
11 new schemes published a first NAV in April 2026, down from 25 in March. Seven were index funds, including two that hold equity and gilts 70:30.
Fund IndustryNifty 50 stocks in April 2026: 47 of 50 rose
05 May 2026
47 current Nifty 50 stocks rose in April 2026, led by Adani Enterprises (+36.9%); HCL Tech fell 10.6%. Three of March's four worst led the gains.
SectorsMarket Recap
FII vs DII in April 2026: selling outran DII buying
04 May 2026
FIIs sold a net ₹70,136 crore in April 2026, ₹19,072 crore more than DIIs bought, yet the Nifty 50 rose 7.46%. The month's flows, day by day.
FII & DII FlowsGold and silver went nowhere in April 2026
04 May 2026
Gold ended April 2026 at ₹1,40,824 per 10 grams, 0.1% lower, and silver 1.0% lower at ₹2,24,399 per kg. The Nifty 50 rose 7.5% in the same month.
Gold & SilverApril 2026 in numbers: the rebound from the March low
01 May 2026
The Nifty 50 rose 7.5% in April 2026 and the Smallcap 250 17.1%, its best month in our record. All 124 NSE indices with a P/E rose. FIIs still sold.
Market Recap
Nifty Pharma P/E at 34.7, above its five-year median
28 Apr 2026
Nifty Pharma closed at a P/E of 34.69 on 27 April 2026, above its median since 2021 and 2.6% off its record, while the Nifty 50 is down 7.8% this year.
Market ValuationsSectors
Banking and financial services funds vs the Nifty Bank
24 Apr 2026
Over three years to 23 April 2026 the median banking and financial services fund returned 17.37% a year, against an estimated 11.14% for the Nifty Bank.
SectorsFund Returns
Fastest-growing fund houses, January–March 2026
23 Apr 2026
Industry AUM rose just 0.65% in January–March 2026, but Zerodha grew 43.6% and Jio BlackRock 21.5%. 22 of 51 houses shrank. Who grew over the quarter and year.
Fund Industry
Gold funds returned 54% in the year to April 2026
22 Apr 2026
The median gold fund of funds returned 54.44% in the year to 21 April 2026. Across 17 funds holding the same metal, best and worst were 2.87 points apart.
Gold & SilverFund Returns
Short duration vs corporate bond funds: April 2026
21 Apr 2026
The median short duration fund returned 5.79% in the year to 20 April 2026 and the median corporate bond fund 5.37%. Both trailed liquid funds' 6.34%.
Debt & Hybrid FundsLargest fund houses by AUM, January–March 2026
17 Apr 2026
SBI Mutual Fund averaged ₹12.48 lakh crore in January–March 2026, 15.3% of the industry's ₹81.54 lakh crore. The top 15, and a quarter that barely grew.
Fund Industry
Flexi-cap fund returns: how far they fell in March
16 Apr 2026
The median flexi-cap fund lost 10.95% in March 2026 and fell 14.70% below its record NAV, then regained 9.91% by 15 April. The 1 to 10-year spread.
Fund Returns