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Nifty Commodities P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty Commodities, which is currently fairly valued — the 32nd percentile of 3,722 daily closes since 2011. Close of 27 Oct 2026.

Every NSE index, cheapest first

How the Nifty Commodities’s valuation reads today

  • Against the market. The Nifty Commodities trades at 0.74× the Nifty 50’s P/E, against a median of 0.68× across 3,722 days they were both priced — a wider premium than usual. A sector can look dear on its own numbers while being cheap against the market, and that gap is usually the more useful of the two.
  • The range it has actually traded in. Its P/E has been as low as 7.61 (Jun 2022) and as high as 24.53 (Jan 2021). Both ends are real closes, not a model — and the high end of an index P/E is usually an earnings collapse rather than a price melt-up, which is why the bands below are percentiles and not a mean.
  • Versus a year ago. 14.15 today, down from 17.77 a year ago. The ratio moves on price and on earnings, so a falling P/E can mean the index got cheaper or that its constituents earned more — the Nifty Commodities level itself is what separates the two.
  • The metrics disagree. Earnings say cheap (P/E 14.15 against a median of 15.13) while dividends say expensive (yield 2.13% against 2.23%). That split is usually a payout-ratio story rather than a valuation one: earnings and dividends do not have to move together, and a company can grow profits for years without raising its dividend.
Price to earnings
14.15Fairly valued

32nd percentile of 3,722 days · median 15.13

Price to book
1.86Fairly valued

47th percentile of 3,722 days · median 1.90

Dividend yield
2.13%Slightly expensive

43rd percentile of 3,722 days · median 2.23

Where the Nifty Commodities P/E ratio sits today

Valuation zones for the Nifty Commodities price to earnings
ZoneP/E rangeWhat it has meant
Undervaluedbelow 11.22Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valuedyou are here11.22 – 15.13Nothing to act on. Keep SIPs running at their normal size.
Slightly expensive15.13 – 18.75Above the historical middle. Stagger a lump sum rather than timing it.
Expensiveabove 18.75Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 3,722 daily closes, with the median as the middle line — so the cheapest and dearest tenth of this index’s own history bound the outer zones, and one freak print cannot move them. They describe where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

When the Nifty Commodities P/E was here, what came next

For every month-end since 29 Feb 2012: the index’s annualised return over the following 1, 3 and 5 years, grouped by the valuation zone it started in. Median, with the worst and best start underneath.

Forward returns of the Nifty Commodities by starting P/E zone
Started inNext 1YNext 3YNext 5Y
Undervalued
+13.2%
-7.4% to +94.9%
22% lost money
+16.2%
+10.2% to +34.3%
0% lost money
too few
Fairly valuedyou are here
+5.1%
-39.0% to +85.0%
38% lost money
+15.0%
-3.1% to +29.4%
6% lost money
+10.6%
-2.7% to +26.1%
2% lost money
Slightly expensive
+5.7%
-27.3% to +79.7%
38% lost money
+7.1%
-12.8% to +28.3%
23% lost money
+10.6%
+1.1% to +25.6%
0% lost money
Expensive
+23.5%
-20.4% to +83.2%
35% lost money
+23.2%
-7.6% to +29.0%
33% lost money
+18.5%
+6.8% to +24.0%
0% lost money

Price return only (index levels carry no dividends, so each figure understates an investor’s return by about the dividend yield). Start months overlap: a 5-year window spans 60 of them, so the counts are not independent observations. A zone needs 12 starts before it is summarised. The past spread of outcomes is wide in every zone — this is a record, not a forecast.

All three, since 2011

Each cell is the median of that month’s daily closes — one day’s print can be an earnings-revision artefact, and on a grid this size that day would colour the whole month. Hover a cell for the trading-day count behind it, or the line above it for any day’s close. All three are always shown; the buttons at the top only change which metric the valuation zones describe.

Nifty Commodities P/E ratio, month by month

90th pct 18.75median 15.1310th pct 11.22
Price to earnings by month, 2011 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2011
·
·
·
·
·
·
·
·
13.70
13.48
15.95
15.07
2012
15.70
17.10
15.97
15.34
14.64
13.37
13.88
16.55
19.42
19.52
14.14
14.61
2013
15.04
15.09
14.77
13.69
13.78
12.72
12.32
9.83
9.95
10.34
10.70
11.70
2014
11.32
10.71
11.64
12.73
14.03
16.96
16.63
15.76
15.34
14.14
14.39
13.58
2015
13.67
14.68
14.61
14.74
14.98
15.32
15.62
14.80
13.56
14.19
14.43
14.74
2016
14.46
14.32
15.00
15.99
14.96
15.94
17.46
18.34
18.46
18.70
17.73
17.54
2017
18.53
17.64
17.23
17.59
17.76
15.58
16.14
16.82
18.57
19.16
18.23
18.07
2018
18.84
18.15
17.13
16.81
16.66
17.65
16.26
16.67
16.53
14.80
15.05
14.69
2019
14.30
13.41
14.59
14.88
14.75
14.63
13.63
12.52
12.84
13.92
14.00
13.66
2020
13.84
14.34
10.90
11.16
11.37
14.68
18.90
18.02
19.11
19.25
19.79
22.84
2021
24.02
21.45
22.23
23.33
18.90
15.32
14.08
11.56
11.61
11.85
10.52
9.46
2022
9.96
9.22
9.10
9.96
8.70
8.03
8.01
10.02
10.19
9.92
12.49
13.23
2023
13.01
13.71
13.65
13.81
15.26
16.14
16.40
14.07
14.52
14.39
13.33
14.47
2024
15.09
15.43
15.39
16.19
17.02
17.42
17.96
20.04
20.15
19.80
18.82
19.21
2025
17.89
17.35
17.74
18.48
18.33
18.06
18.55
17.09
17.06
17.53
16.71
16.27
2026
16.69
16.74
15.93
16.86
16.80
15.10
14.30
15.29
14.85
14.32
·
·
cheapestdearest· shaded by rank among all 182 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty Commodities P/B ratio, month by month

90th pct 2.43median 1.9010th pct 1.44
Price to book by month, 2011 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2011
·
·
·
·
·
·
·
·
1.93
1.90
1.84
1.71
2012
1.76
1.88
1.81
1.74
1.60
1.63
1.69
1.69
1.70
1.73
1.60
1.65
2013
1.70
1.61
1.53
1.48
1.53
1.42
1.42
1.27
1.42
1.46
1.47
1.51
2014
1.46
1.39
1.47
1.63
1.80
2.02
1.98
1.84
1.83
1.67
1.69
1.58
2015
1.59
1.65
1.62
1.67
1.65
1.60
1.63
1.48
1.36
1.43
1.40
1.41
2016
1.38
1.32
1.38
1.49
1.47
1.54
1.67
1.73
1.73
1.78
1.73
1.74
2017
1.84
1.94
1.95
2.02
2.03
1.98
2.05
2.17
2.25
2.10
2.10
2.10
2018
2.20
2.19
2.11
2.09
2.05
1.99
1.89
1.95
1.96
1.64
1.67
1.63
2019
1.53
1.48
1.69
1.72
1.71
1.73
1.63
1.44
1.43
1.55
1.58
1.58
2020
1.60
1.52
1.11
1.13
1.15
1.29
1.37
1.54
1.54
1.55
1.70
1.85
2021
1.94
2.05
2.20
2.22
2.46
2.53
2.49
2.50
2.55
2.54
2.50
2.39
2022
2.51
2.52
2.49
2.73
2.37
2.17
2.11
2.29
2.29
2.19
2.30
2.34
2023
2.30
2.14
2.10
2.17
2.23
2.29
2.35
2.38
2.38
1.85
1.92
2.13
2024
2.24
2.40
2.39
2.51
2.59
2.66
2.71
2.74
2.64
2.48
2.24
2.26
2025
2.10
2.05
2.11
2.24
2.30
2.28
2.31
2.17
2.13
2.20
2.21
2.20
2026
2.27
2.35
2.25
2.38
2.45
2.32
2.14
2.02
1.92
1.86
·
·
cheapestdearest

Nifty Commodities dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 3.09median 2.2310th pct 1.66
Dividend yield by month, 2011 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2011
·
·
·
·
·
·
·
·
1.52
1.54
1.60
1.67
2012
1.61
1.51
1.56
1.63
1.77
1.72
1.66
1.67
1.68
1.60
1.78
1.72
2013
1.66
1.73
1.84
1.99
1.92
2.05
2.02
2.24
2.21
2.27
2.25
2.21
2014
2.28
2.40
2.25
2.06
1.87
1.65
1.69
1.82
1.81
2.22
2.19
2.31
2015
2.30
2.33
2.48
2.57
2.62
2.66
2.56
2.70
2.76
2.52
2.60
2.58
2016
2.63
2.76
2.63
2.37
2.38
2.22
1.99
1.89
2.09
2.06
2.26
2.28
2017
2.19
2.08
2.08
2.05
2.05
2.12
2.06
1.95
1.88
2.87
2.73
2.66
2018
2.55
2.56
2.71
2.77
2.81
2.90
3.06
2.91
2.76
2.91
2.78
2.85
2019
2.99
3.10
2.84
2.78
2.79
2.77
2.92
3.21
3.26
3.08
3.03
3.03
2020
2.99
3.10
4.26
4.15
4.10
3.66
3.54
2.90
2.58
2.45
2.22
2.05
2021
1.93
1.83
1.70
1.96
1.75
1.68
1.97
1.94
2.61
2.53
2.53
2.92
2022
2.96
3.04
3.03
2.67
3.36
3.87
3.83
3.75
3.31
3.11
3.02
2.99
2023
2.96
3.27
3.19
3.17
2.81
2.87
2.72
2.45
2.27
2.27
2.33
2.10
2024
2.15
1.93
1.93
1.69
1.66
1.53
1.58
1.81
1.96
2.03
2.27
2.15
2025
2.19
2.38
2.17
2.13
2.07
2.11
1.96
1.92
1.90
1.82
1.85
1.81
2026
1.79
1.57
1.70
1.65
1.60
1.69
1.79
1.55
1.46
2.11
·
·
cheapestdearest

From the blog

Frequently asked questions

What is the Nifty Commodities P/E ratio today?

The Nifty Commodities closed at a price-to-earnings ratio of 14.15 on 27 October 2026. NSE publishes it once a day after the close, on a consolidated trailing-twelve-month basis, so it moves on the index and on quarterly earnings revisions — there is no intraday figure.

Is the Nifty Commodities overvalued right now?

Against its own history it is fairly valued: a P/E of 14.15 is the 32nd percentile of 3,722 daily closes, against a median of 15.13 over that span. That describes where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

What is a good P/E ratio for the Nifty Commodities?

There is no single good number, but there is a measured middle: 11.22 to 18.75 is the middle 80% of 3,722 daily closes, and the median sits at 15.13. Below 11.22 is the cheapest tenth of this index's own history and above 18.75 the dearest tenth. Compare it to the index's own past rather than to another market's — earnings mix and growth differ, so an Indian P/E and a US one are not the same quantity.

What is the Nifty Commodities P/B ratio?

The Nifty Commodities price-to-book ratio is 1.86 as of 27 October 2026, against a historical median of 1.90. P/B compares the index to the book value of its constituents' assets, which makes it the steadier of the two — book value does not swing on one quarter's earnings the way a P/E denominator can.

What is the Nifty Commodities dividend yield?

The Nifty Commodities dividend yield is 2.13% as of 27 October 2026, against a historical median of 2.23%. It reads backwards from the other two: a HIGH yield is the cheap end, because the same dividends are being bought for a lower price.

How often does this page update, and where do the numbers come from?

From NSE's own daily index file, which carries P/E, P/B and dividend yield for every index it prices — 144 of them have a meaningful P/E today. It is published once after each close and picked up by the hourly refresh, so the figures here are the last published close, never a live quote.

Nearby indices

Nifty BankNifty CPSENifty Capital MarketsNifty ChemicalsNifty Conglomerate 50Nifty Consumer DurablesNifty Core HousingNifty Dividend Opportunities 50

How to read these numbers

How to read an index P/E ratio

Consolidated trailing-twelve-month, free-float weighted, one value a day — and why the absolute number tells you almost nothing on its own.

Is the market expensive?

Valuation predicts ten-year returns and not next year’s. What that gap means, and when a reading should change anything.

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