NSE’s own daily publication

Nifty Metal P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty Metal, which is currently slightly expensive — the 55th percentile of 3,761 daily closes since 2011. Close of 27 Oct 2026.

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How the Nifty Metal’s valuation reads today

Against the market. The Nifty Metal trades at 0.78× the Nifty 50’s P/E, against a median of 0.64× across 3,761 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 4.75 (Jun 2022) and as high as 45.44 (Feb 2017). 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. 14.93 today, down from 19.75 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 Metal level itself is what separates the two.

Price to earnings

14.93Slightly expensive

55th percentile of 3,761 days · median 14.21

Price to book

2.51Slightly expensive

84th percentile of 3,761 days · median 1.51

Dividend yield

1.80%Slightly expensive

20th percentile of 3,761 days · median 3.04

Where the Nifty Metal P/E ratio sits today

Valuation zones for the Nifty Metal price to earnings
Zone	P/E range	What it has meant
Undervalued	below 8.92	Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valued	8.92 – 14.21	Nothing to act on. Keep SIPs running at their normal size.
Slightly expensiveyou are here	14.21 – 28.23	Above the historical middle. Stagger a lump sum rather than timing it.
Expensive	above 28.23	Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 3,761 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 Metal 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 Metal by starting P/E zone
Started in	Next 1Y	Next 3Y	Next 5Y
Undervalued	+12.5% -17.0% to +150.8% 22% lost money	+19.9% +10.8% to +51.3% 0% lost money	too few
Fairly valued	-4.6% -48.9% to +168.9% 52% lost money	+16.8% -16.0% to +47.2% 24% lost money	+10.8% -7.4% to +37.8% 14% lost money
Slightly expensiveyou are here	+22.8% -37.5% to +82.0% 32% lost money	+5.8% -20.0% to +36.6% 40% lost money	+12.5% -4.7% to +32.3% 11% lost money
Expensive	+28.7% -6.5% to +94.9% 33% lost money	too few	too few

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 Metal P/E ratio, month by month

90th pct 28.23median 14.2110th pct 8.92

Price to earnings by month, 2011 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2011	·	·	·	·	·	·	14.07	11.92	11.08	10.27	10.61	9.70
2012	10.82	12.69	12.10	11.62	10.96	11.40	11.90	12.42	12.63	12.06	11.25	11.88
2013	12.11	11.52	10.50	9.49	9.80	9.73	9.45	9.51	12.91	13.60	15.07	15.29
2014	14.90	12.96	11.98	13.29	14.27	16.61	16.70	14.86	14.05	12.74	12.25	11.30
2015	10.91	12.27	13.81	14.17	14.03	12.66	12.13	12.20	12.02	11.74	12.92	14.29
2016	13.47	24.46	34.19	28.45	21.69	22.49	27.73	29.08	26.40	30.14	40.93	41.00
2017	42.70	27.58	24.86	20.08	19.50	14.49	14.88	15.81	17.26	18.61	16.98	16.38
2018	18.17	17.53	15.64	15.62	15.41	16.97	15.50	15.40	17.06	15.82	15.02	12.47
2019	12.25	10.76	10.49	10.79	10.19	10.27	9.35	8.23	8.47	9.23	9.52	9.42
2020	10.22	11.84	8.33	8.13	8.28	14.43	14.84	12.07	11.96	11.95	13.46	17.19
2021	18.58	14.28	14.12	30.39	16.28	14.46	14.03	9.25	8.88	8.99	7.33	6.63
2022	6.86	6.49	6.82	7.20	5.79	5.15	5.17	6.62	6.93	6.64	9.88	10.27
2023	10.47	11.98	11.82	11.82	14.72	16.78	17.75	23.53	24.99	24.50	30.13	33.15
2024	32.94	26.63	26.84	29.36	31.50	34.87	34.45	31.19	30.98	32.11	21.50	21.89
2025	20.32	19.74	20.59	19.94	19.78	18.94	19.15	18.07	18.93	19.54	19.60	18.75
2026	20.52	20.41	19.72	21.61	22.16	19.19	16.62	16.28	15.93	15.75	·	·

cheapestdearest· shaded by rank among all 184 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty Metal P/B ratio, month by month

90th pct 2.66median 1.5110th pct 0.92

Price to book by month, 2011 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2011	·	·	·	·	·	·	2.21	1.86	1.73	1.60	1.50	1.38
2012	1.52	1.56	1.47	1.41	1.29	1.31	1.35	1.31	1.28	1.24	1.14	1.19
2013	1.21	1.12	1.02	1.02	1.03	0.92	0.87	0.82	1.10	1.13	1.20	1.27
2014	1.24	1.14	1.17	1.31	1.42	1.70	1.71	1.50	1.44	1.25	1.23	1.15
2015	1.11	1.19	1.19	1.22	1.21	1.13	1.08	0.92	0.85	0.68	0.65	0.67
2016	0.63	0.61	0.70	0.80	0.82	0.87	0.99	1.06	1.07	1.13	1.16	1.19
2017	1.27	1.35	1.36	1.35	1.35	1.42	1.53	1.85	2.00	1.77	1.75	1.67
2018	1.88	1.86	1.72	1.73	1.68	1.64	1.47	1.47	1.55	1.46	1.44	1.33
2019	1.26	1.19	1.31	1.35	1.27	1.29	1.20	0.99	1.00	1.01	1.08	1.10
2020	1.19	1.10	0.72	0.71	0.72	0.84	0.88	1.14	1.10	1.06	1.21	1.40
2021	1.52	1.56	1.69	1.99	2.36	2.39	2.32	2.44	2.40	2.41	2.32	2.26
2022	2.34	2.38	2.54	2.59	2.14	1.90	1.73	1.96	2.04	1.88	2.09	2.17
2023	2.21	1.87	1.78	1.79	1.84	1.91	2.04	2.12	2.16	2.02	2.04	2.26
2024	2.31	2.34	2.39	2.61	2.76	2.87	2.83	2.83	2.81	2.79	2.56	2.60
2025	2.40	2.37	2.54	2.49	2.66	2.66	2.64	2.50	2.58	2.67	2.71	2.74
2026	3.00	3.12	3.03	3.32	3.46	3.18	2.65	2.74	2.61	2.55	·	·

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

90th pct 4.63median 3.0410th pct 1.54

Dividend yield by month, 2011 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2011	·	·	·	·	·	·	0.92	1.09	1.15	1.24	1.31	1.40
2012	1.27	1.35	1.43	1.49	1.60	1.57	1.53	1.59	1.70	1.62	2.04	1.88
2013	1.85	2.01	2.21	2.49	2.45	2.73	2.71	2.84	2.11	2.01	1.93	1.97
2014	2.01	2.18	2.12	1.90	1.77	1.48	1.48	1.77	1.85	2.76	2.84	3.02
2015	3.13	3.51	4.11	4.01	4.06	4.36	4.56	4.63	4.52	3.74	4.01	3.89
2016	4.14	4.28	3.75	3.65	3.77	3.55	3.46	3.26	3.71	3.55	3.53	3.60
2017	3.55	3.43	3.50	3.72	3.80	3.60	3.33	3.20	3.00	3.90	3.49	3.35
2018	3.02	3.10	3.35	3.34	3.42	3.52	3.88	3.75	3.58	3.61	3.67	3.99
2019	4.30	4.57	4.25	4.11	4.38	4.32	4.55	5.11	5.03	5.07	4.69	4.62
2020	4.37	4.72	7.16	7.46	7.33	6.32	6.03	3.80	3.71	3.61	3.11	2.67
2021	2.46	2.34	2.16	2.13	1.71	1.67	2.21	2.02	2.69	2.70	2.37	3.00
2022	3.34	3.29	3.47	2.57	4.01	5.29	5.48	5.14	4.46	4.61	4.07	4.23
2023	3.86	5.01	4.87	5.35	4.45	4.44	3.95	3.19	3.09	3.16	3.15	2.42
2024	2.77	2.38	2.38	1.60	1.54	1.34	1.44	1.67	2.12	2.17	2.34	2.33
2025	2.44	2.48	2.26	2.42	2.21	2.32	2.06	2.04	1.80	1.70	1.98	1.93
2026	1.58	1.54	1.57	1.58	1.56	1.58	1.80	1.62	1.28	1.75	·	·

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From the blog

Frequently asked questions

What is the Nifty Metal P/E ratio today?

The Nifty Metal closed at a price-to-earnings ratio of 14.93 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 Metal overvalued right now?

Against its own history it is slightly expensive: a P/E of 14.93 is the 55th percentile of 3,761 daily closes, against a median of 14.21 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 Metal?

There is no single good number, but there is a measured middle: 8.92 to 28.23 is the middle 80% of 3,761 daily closes, and the median sits at 14.21. Below 8.92 is the cheapest tenth of this index's own history and above 28.23 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 Metal P/B ratio?

The Nifty Metal price-to-book ratio is 2.51 as of 27 October 2026, against a historical median of 1.51. 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 Metal dividend yield?

The Nifty Metal dividend yield is 1.80% as of 27 October 2026, against a historical median of 3.04%. 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.