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Nifty Next 50 P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty Next 50, which is currently fairly valued — the 40th percentile of 6,894 daily closes since 1999. Close of 27 Oct 2026.

Every NSE index, cheapest first

How the Nifty Next 50’s valuation reads today

  • Against the market. The Nifty Next 50 trades at 0.90× the Nifty 50’s P/E, against a median of 0.96× across 6,894 days they were both priced — a deeper discount 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 5.04 (Jan 2002) and as high as 97.11 (Jun 2020). 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. 17.24 today, down from 21.12 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 Next 50 level itself is what separates the two.
Price to earnings
17.24Fairly valued

40th percentile of 6,894 days · median 19.33

Price to book
3.24Slightly expensive

54th percentile of 6,894 days · median 3.09

Dividend yield
1.52%Fairly valued

67th percentile of 6,894 days · median 1.36

Where the Nifty Next 50 P/E ratio sits today

Valuation zones for the Nifty Next 50 price to earnings
ZoneP/E rangeWhat it has meant
Undervaluedbelow 9.76Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valuedyou are here9.76 – 19.33Nothing to act on. Keep SIPs running at their normal size.
Slightly expensive19.33 – 36.58Above the historical middle. Stagger a lump sum rather than timing it.
Expensiveabove 36.58Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 6,894 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 Next 50 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 Next 50 by starting P/E zone
Started inNext 1YNext 3YNext 5Y
Undervaluedtoo fewtoo fewtoo few
Fairly valuedyou are here
+26.0%
-2.3% to +63.0%
4% lost money
+23.3%
+14.2% to +29.8%
0% lost money
+20.0%
+12.3% to +24.3%
0% lost money
Slightly expensive
+8.0%
-13.4% to +72.8%
26% lost money
+15.5%
-5.6% to +23.5%
10% lost money
+10.2%
+1.7% to +21.8%
0% lost money
Expensive
+6.1%
-27.8% to +61.8%
38% lost money
+15.2%
+1.3% to +23.1%
0% lost money
+16.6%
+5.1% to +24.5%
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 1999

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 Next 50 P/E ratio, month by month

90th pct 36.58median 19.3310th pct 9.76
Price to earnings by month, 1999 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
1999
13.11
13.96
16.27
16.69
17.87
15.53
16.78
19.42
20.48
23.30
21.32
33.97
2000
38.86
43.06
36.58
28.52
20.44
17.64
17.15
15.98
16.27
13.50
14.58
15.43
2001
14.80
14.48
10.13
8.87
8.59
8.02
8.57
7.00
5.97
6.04
6.58
6.01
2002
5.82
6.74
6.80
6.96
7.38
8.84
8.22
7.49
6.90
6.56
6.61
12.02
2003
12.29
12.05
12.05
8.68
10.39
11.59
10.96
9.66
10.51
11.78
12.43
14.12
2004
16.08
15.90
11.80
12.84
9.22
7.93
8.03
8.11
8.85
9.22
9.56
13.23
2005
13.29
13.37
14.47
13.70
14.12
14.19
14.97
15.75
16.45
15.61
15.66
16.82
2006
17.54
17.90
19.38
20.25
19.94
14.55
14.36
16.05
17.33
20.38
21.38
21.40
2007
21.83
19.30
17.79
17.23
17.39
18.85
20.25
18.05
19.31
21.27
21.87
24.75
2008
25.76
19.63
16.78
17.38
17.74
14.65
12.35
13.71
13.15
9.59
8.46
8.52
2009
8.48
8.29
8.05
10.30
12.26
15.54
15.31
14.79
15.54
16.61
15.52
16.03
2010
16.72
14.71
15.43
15.61
14.95
16.81
17.56
18.33
19.89
20.41
18.83
17.29
2011
16.31
15.13
15.14
16.68
15.77
15.64
15.72
13.96
13.82
13.66
15.14
14.05
2012
14.73
16.06
15.64
15.93
16.37
14.96
15.54
15.30
18.10
20.10
16.52
17.33
2013
17.87
17.45
17.38
17.65
19.24
18.23
17.38
14.48
13.59
14.18
14.83
15.24
2014
15.49
14.83
16.14
17.56
18.27
21.35
21.75
20.51
20.97
20.31
20.89
20.35
2015
20.98
21.15
21.27
23.03
22.65
21.32
22.67
23.49
21.45
22.00
21.26
21.72
2016
20.87
20.35
21.40
22.61
21.27
25.04
27.63
29.16
29.49
30.58
26.11
25.33
2017
26.47
25.14
25.23
27.95
28.70
29.27
28.69
30.10
31.88
32.75
34.65
36.81
2018
38.40
36.63
34.78
34.58
33.80
33.41
44.09
44.20
41.45
37.27
39.13
41.46
2019
41.51
40.13
44.11
45.03
43.42
43.11
45.35
45.08
45.61
37.91
38.23
65.43
2020
66.46
71.53
57.77
61.94
63.42
74.00
31.55
32.87
33.55
36.10
37.44
40.52
2021
43.05
40.00
39.07
42.66
32.94
31.99
30.99
28.72
29.66
26.77
25.65
22.68
2022
23.25
21.18
20.98
21.94
19.30
18.52
19.54
22.73
23.58
21.73
24.92
25.38
2023
25.53
25.87
26.07
26.12
27.32
28.60
29.12
25.20
25.65
24.59
22.52
24.87
2024
26.00
25.22
25.64
23.21
24.40
25.35
26.24
26.37
26.81
23.85
22.41
23.03
2025
23.34
21.89
21.46
21.74
21.91
21.90
21.91
21.05
21.01
20.89
20.33
19.95
2026
19.95
19.64
18.17
19.66
19.27
18.94
18.84
19.70
19.06
17.93
·
·
cheapestdearest· shaded by rank among all 334 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty Next 50 P/B ratio, month by month

90th pct 4.46median 3.0910th pct 1.58
Price to book by month, 1999 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
1999
2.15
2.29
2.67
2.81
3.01
2.48
2.69
3.08
3.11
3.43
3.24
5.17
2000
5.94
6.60
5.61
4.23
2.75
2.35
2.29
2.16
2.13
1.78
1.90
1.99
2001
1.91
1.88
1.35
1.23
1.27
1.15
1.03
1.02
0.87
0.87
0.96
1.03
2002
1.01
1.13
1.15
1.17
1.21
1.26
1.09
0.99
0.91
0.87
0.88
1.03
2003
1.06
1.04
1.04
1.01
1.21
1.35
1.53
1.55
1.71
1.91
2.02
2.29
2004
2.61
2.59
2.38
2.59
2.26
1.95
1.93
1.95
2.09
2.13
2.21
2.72
2005
2.73
2.81
3.02
2.86
2.89
2.71
2.82
2.97
2.95
2.79
2.83
3.05
2006
3.25
3.39
3.67
3.88
3.92
2.69
2.47
2.69
2.88
3.38
3.54
3.54
2007
3.67
3.64
3.36
3.53
3.91
3.93
4.11
3.80
3.98
4.35
4.59
5.10
2008
5.30
4.38
3.59
3.67
3.86
2.94
2.46
2.60
2.40
1.68
1.52
1.53
2009
1.52
1.43
1.38
1.91
2.17
2.64
2.41
2.43
2.55
2.75
2.90
2.99
2010
3.12
2.94
3.10
3.19
3.17
3.24
3.37
3.27
3.45
3.42
3.40
3.17
2011
3.00
2.83
2.86
3.21
3.35
3.24
3.11
2.65
2.42
2.30
2.21
2.02
2012
2.08
2.27
2.30
2.34
2.12
2.11
2.21
2.17
2.15
2.18
2.11
2.25
2013
2.33
2.25
2.17
2.18
2.34
2.21
2.16
1.98
2.01
2.10
2.18
2.24
2014
2.26
2.18
2.30
2.35
2.53
2.68
2.69
2.67
2.80
2.69
2.87
2.71
2015
2.78
2.96
2.98
2.97
2.99
2.88
3.00
3.06
2.83
2.87
2.78
2.78
2016
2.67
2.46
2.58
2.70
2.71
2.76
2.97
3.05
3.04
3.44
3.29
3.35
2017
3.48
3.72
3.76
3.57
3.66
3.80
3.88
3.84
3.93
3.35
3.48
3.51
2018
3.66
3.45
3.34
3.48
3.45
3.40
3.31
3.46
3.36
3.72
3.87
3.92
2019
3.90
3.71
3.94
4.15
4.01
4.02
4.01
3.82
3.56
3.54
3.71
3.77
2020
3.93
3.86
3.00
3.06
3.01
3.10
3.98
3.85
3.60
3.72
3.97
4.37
2021
4.52
4.60
4.63
4.63
5.01
5.24
5.20
4.83
5.19
4.44
4.42
4.27
2022
4.37
4.20
4.11
4.60
4.11
3.92
4.07
4.40
4.50
4.58
4.70
4.76
2023
4.76
4.34
4.26
4.28
4.54
4.79
4.65
4.42
4.44
3.62
3.75
4.15
2024
4.36
4.67
4.76
4.46
4.71
4.97
5.04
4.99
4.73
3.98
3.73
3.85
2025
3.54
3.38
3.34
3.99
4.14
4.06
3.92
3.65
3.59
3.61
3.62
3.57
2026
3.56
3.62
3.37
3.71
3.75
3.62
3.43
3.41
3.21
3.30
·
·
cheapestdearest

Nifty Next 50 dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 2.34median 1.3610th pct 0.98
Dividend yield by month, 1999 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
1999
1.61
1.43
1.25
1.33
1.34
1.50
1.38
1.29
1.29
1.12
1.13
0.72
2000
0.63
0.57
0.66
1.00
1.65
1.52
1.33
1.17
1.22
1.56
3.49
5.41
2001
5.63
5.70
7.91
8.66
8.66
9.40
11.04
11.48
14.18
14.31
12.27
11.76
2002
11.92
8.29
1.98
1.97
1.87
2.01
3.31
3.63
3.95
4.15
4.12
3.26
2003
3.18
3.25
3.47
3.04
2.54
2.27
2.06
2.08
1.89
1.69
1.60
1.42
2004
1.23
1.25
2.36
2.17
2.49
2.71
2.57
2.54
2.38
2.31
2.25
1.99
2005
1.99
1.92
1.81
1.93
1.92
1.79
1.69
1.63
1.62
1.65
1.63
1.51
2006
1.42
1.37
1.26
1.19
1.17
1.63
1.75
1.60
1.44
1.20
1.11
1.12
2007
1.08
1.08
1.18
1.19
1.08
1.08
1.02
1.08
1.02
0.92
0.83
0.73
2008
0.69
0.82
0.96
0.93
0.88
1.11
1.30
1.27
1.34
1.89
2.09
2.07
2009
2.06
2.18
2.25
1.76
1.49
1.21
1.26
1.16
1.10
1.02
1.02
0.99
2010
0.95
1.01
0.96
0.94
0.95
0.92
0.89
0.99
0.94
0.96
0.97
1.04
2011
1.10
1.16
1.15
1.03
1.01
1.02
1.12
1.16
1.41
1.43
1.48
1.61
2012
1.61
1.48
1.50
1.48
1.50
1.51
1.45
1.46
1.47
1.45
1.41
1.31
2013
1.26
1.33
1.37
1.40
1.29
1.36
1.38
1.50
1.46
1.48
1.47
1.44
2014
1.42
1.48
1.41
1.42
1.31
1.18
1.14
1.13
1.07
1.12
1.03
1.05
2015
1.02
0.97
0.96
1.07
1.08
1.13
1.09
1.14
1.24
1.61
1.66
1.65
2016
1.73
1.87
1.78
1.73
1.72
1.68
1.55
1.54
1.56
1.49
1.61
1.63
2017
1.60
1.49
1.50
1.31
1.28
1.27
1.21
1.19
1.15
1.12
1.05
1.03
2018
0.97
1.03
1.16
1.12
1.15
1.17
1.17
1.19
1.19
1.05
1.01
0.95
2019
0.88
0.94
0.87
0.90
0.93
0.92
0.98
1.13
1.14
1.24
1.18
1.18
2020
1.13
1.15
1.47
1.42
1.44
1.37
1.04
1.02
1.17
1.31
1.23
1.09
2021
1.03
1.01
1.00
1.13
1.04
0.98
1.12
1.14
1.24
1.19
1.06
1.17
2022
1.35
1.34
1.43
1.50
2.08
2.25
2.16
2.11
1.90
2.01
1.87
1.97
2023
1.77
1.98
1.92
2.00
1.53
1.63
1.70
1.54
1.49
1.46
1.60
1.34
2024
1.37
1.29
1.28
1.13
1.10
0.98
1.05
1.12
1.25
1.42
1.47
1.36
2025
1.22
1.32
1.34
1.43
1.37
1.37
1.31
1.36
1.31
1.34
1.39
1.43
2026
1.43
1.33
1.46
1.42
1.42
1.27
1.23
1.10
1.00
1.48
·
·
cheapestdearest

From the blog

Frequently asked questions

What is the Nifty Next 50 P/E ratio today?

The Nifty Next 50 closed at a price-to-earnings ratio of 17.24 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 Next 50 overvalued right now?

Against its own history it is fairly valued: a P/E of 17.24 is the 40th percentile of 6,894 daily closes, against a median of 19.33 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 Next 50?

There is no single good number, but there is a measured middle: 9.76 to 36.58 is the middle 80% of 6,894 daily closes, and the median sits at 19.33. Below 9.76 is the cheapest tenth of this index's own history and above 36.58 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 Next 50 P/B ratio?

The Nifty Next 50 price-to-book ratio is 3.24 as of 27 October 2026, against a historical median of 3.09. 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 Next 50 dividend yield?

The Nifty Next 50 dividend yield is 1.52% as of 27 October 2026, against a historical median of 1.36%. 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.

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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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