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Nifty500 Shariah P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty500 Shariah, which is currently slightly expensive — the 67th percentile of 4,598 daily closes since 2008. Close of 27 Oct 2026.

Every NSE index, cheapest first

How the Nifty500 Shariah’s valuation reads today

  • Against the market. The Nifty500 Shariah trades at 1.40× the Nifty 50’s P/E, against a median of 1.05× across 4,598 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 7.35 (Mar 2008) and as high as 40.86 (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. 26.68 today, down from 29.07 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 Nifty500 Shariah level itself is what separates the two.
  • The metrics disagree. Earnings say expensive (P/E 26.68 against a median of 23.83) while dividends say cheap (yield 1.44% against 1.29%). 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
26.68Slightly expensive

67th percentile of 4,598 days · median 23.83

Price to book
4.01Fairly valued

44th percentile of 4,598 days · median 4.26

Dividend yield
1.44%Fairly valued

60th percentile of 4,598 days · median 1.29

Where the Nifty500 Shariah P/E ratio sits today

Valuation zones for the Nifty500 Shariah price to earnings
ZoneP/E rangeWhat it has meant
Undervaluedbelow 18.20Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valued18.20 – 23.83Nothing to act on. Keep SIPs running at their normal size.
Slightly expensiveyou are here23.83 – 32.63Above the historical middle. Stagger a lump sum rather than timing it.
Expensiveabove 32.63Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 4,598 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 Nifty500 Shariah 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 Nifty500 Shariah by starting P/E zone
Started inNext 1YNext 3YNext 5Y
Undervaluedtoo fewtoo fewtoo few
Fairly valued
+14.5%
-10.2% to +76.0%
8% lost money
+15.1%
+5.6% to +25.7%
0% lost money
+15.6%
+2.8% to +23.1%
0% lost money
Slightly expensiveyou are here
+8.2%
-20.0% to +67.7%
35% lost money
+11.4%
-1.3% to +23.0%
2% lost money
+12.8%
+4.8% to +23.2%
0% lost money
Expensive
-1.1%
-15.5% to +59.2%
55% lost money
+17.1%
+13.9% to +19.5%
0% lost money
+9.5%
+4.3% to +15.6%
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 2008

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.

Nifty500 Shariah P/E ratio, month by month

90th pct 32.63median 23.8310th pct 18.20
Price to earnings by month, 2008 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2008
·
8.64
7.83
8.06
8.26
19.14
16.92
17.84
16.72
12.53
11.51
11.82
2009
11.94
13.03
13.16
15.98
18.68
21.43
21.13
21.89
23.37
23.73
23.77
24.65
2010
25.46
22.41
23.50
24.04
22.03
22.67
23.07
23.54
24.95
25.64
24.96
24.74
2011
23.64
21.63
21.70
22.75
21.20
21.32
21.06
18.41
18.55
18.36
17.59
17.13
2012
17.33
18.81
18.70
18.08
17.38
17.70
17.94
18.83
19.45
19.52
19.04
19.24
2013
19.50
19.00
18.70
18.07
18.41
18.11
19.14
18.16
19.59
20.33
19.66
19.90
2014
20.21
19.39
19.93
20.84
20.71
21.85
22.33
21.74
21.87
21.49
22.50
21.80
2015
22.53
23.41
23.83
23.61
23.37
24.21
25.33
25.25
23.46
23.42
21.90
21.91
2016
21.27
19.63
20.48
21.13
21.00
21.64
22.70
23.32
23.80
24.32
21.90
22.00
2017
22.65
23.05
23.59
24.46
25.02
24.99
25.34
25.73
32.18
32.48
30.15
30.56
2018
31.70
29.26
28.66
29.84
29.44
28.36
27.99
27.82
25.68
22.05
22.95
23.28
2019
22.79
22.52
23.76
23.96
23.29
23.01
22.32
23.20
24.01
25.98
25.93
25.48
2020
26.34
26.76
21.52
22.92
22.80
25.27
28.68
30.55
32.45
33.84
33.64
37.16
2021
39.55
37.17
37.90
33.75
33.70
35.34
33.60
32.71
33.32
33.44
29.63
28.88
2022
30.10
27.39
27.23
27.25
24.94
24.29
25.03
23.77
23.35
22.50
23.93
24.52
2023
24.14
24.59
23.94
23.91
25.45
27.19
27.81
27.38
28.36
28.98
29.31
30.92
2024
32.15
32.75
32.11
32.54
32.66
33.70
35.22
36.79
37.66
34.45
33.55
34.32
2025
32.15
30.20
29.17
30.13
31.28
31.17
31.49
28.30
28.86
28.93
27.93
27.98
2026
27.94
27.52
25.87
28.02
28.42
28.36
28.55
28.88
27.50
27.15
·
·
cheapestdearest· shaded by rank among all 225 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty500 Shariah P/B ratio, month by month

90th pct 6.11median 4.2610th pct 3.33
Price to book by month, 2008 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2008
·
2.40
2.13
2.20
2.31
5.10
4.52
4.67
3.84
2.83
2.65
2.73
2009
2.74
2.74
2.72
3.41
3.96
4.53
4.30
4.53
4.75
4.79
4.44
4.53
2010
4.60
4.24
4.51
4.61
4.43
4.58
4.65
4.39
4.56
4.51
4.35
4.26
2011
4.14
3.92
3.93
4.16
3.94
3.94
3.94
3.54
3.53
3.58
3.58
3.48
2012
3.48
3.69
3.64
3.57
3.44
3.40
3.45
3.58
3.72
3.69
3.55
3.60
2013
3.76
3.71
3.69
3.58
3.70
2.91
3.06
2.97
3.32
3.53
3.53
3.58
2014
3.66
3.57
3.71
3.88
3.95
4.10
4.12
3.96
3.79
3.63
3.78
3.70
2015
3.77
3.81
3.87
3.84
3.77
3.71
3.85
3.79
3.48
3.49
3.26
3.27
2016
3.18
3.02
3.17
3.30
3.29
3.35
3.50
3.46
3.40
3.71
3.39
3.39
2017
3.48
3.63
3.80
3.95
4.00
4.06
4.10
4.00
5.05
4.75
4.43
4.49
2018
4.64
4.45
4.34
4.50
4.43
4.37
4.33
4.33
4.06
3.38
3.40
3.45
2019
3.25
3.24
3.48
3.52
3.45
3.48
3.73
3.90
3.93
4.27
4.33
4.32
2020
4.48
4.50
3.55
3.77
3.78
4.09
4.49
4.66
4.73
5.19
5.35
5.80
2021
6.27
6.30
6.47
6.64
6.75
6.91
6.98
7.09
7.29
7.18
6.74
6.76
2022
7.04
6.64
6.62
6.68
6.19
5.97
6.11
5.83
5.54
5.44
5.29
5.31
2023
5.25
5.10
4.89
4.87
5.05
5.26
5.44
5.42
5.46
4.61
4.70
5.00
2024
5.23
5.40
5.31
5.49
5.58
6.81
7.06
7.08
6.92
6.24
5.92
5.79
2025
5.45
5.11
4.98
5.18
5.45
5.49
5.44
5.02
5.03
4.89
4.87
4.82
2026
4.79
4.69
4.35
4.64
4.74
4.67
4.60
4.51
4.13
4.02
·
·
cheapestdearest

Nifty500 Shariah dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 1.76median 1.2910th pct 0.94
Dividend yield by month, 2008 to 2026, as the median of each month’s daily closes
YearJanFebMarAprMayJunJulAugSepOctNovDec
2008
·
2.37
2.67
2.59
2.46
1.08
1.19
1.12
1.28
1.73
1.88
1.85
2009
1.87
1.88
1.85
1.52
1.30
1.08
1.08
1.04
0.97
0.94
0.90
0.87
2010
0.84
0.90
0.85
0.83
0.87
0.84
0.82
0.92
0.89
0.88
0.89
0.90
2011
0.94
0.99
0.99
0.95
1.12
1.19
1.21
1.29
1.47
1.48
1.56
1.62
2012
1.63
1.51
1.56
1.60
1.67
1.63
1.60
1.53
1.46
1.44
1.49
1.50
2013
1.45
1.48
1.49
1.54
1.47
1.42
1.27
1.29
1.19
1.23
1.25
1.27
2014
1.22
1.25
1.19
1.13
1.14
1.06
1.02
1.01
0.95
0.97
0.94
0.96
2015
0.93
0.92
0.90
0.91
1.12
1.13
1.09
1.08
1.16
1.16
1.26
1.26
2016
1.29
1.36
1.32
1.24
1.12
1.11
1.07
1.07
1.08
1.03
1.10
1.10
2017
1.07
1.03
0.99
0.96
0.95
0.94
0.92
0.84
0.87
1.09
1.14
1.13
2018
1.13
1.19
1.24
1.19
1.20
1.23
1.23
1.15
1.22
1.40
1.30
1.29
2019
1.31
1.32
1.27
1.26
1.28
1.28
1.78
1.85
1.81
1.64
1.63
1.64
2020
1.58
1.57
1.98
1.85
1.85
1.73
1.77
1.76
1.81
1.89
1.88
1.75
2021
1.60
1.60
1.56
1.18
1.23
1.27
1.26
1.28
1.23
1.20
1.44
1.50
2022
1.46
1.57
1.60
1.54
1.66
1.79
1.78
1.70
1.63
1.55
1.58
1.56
2023
1.71
1.78
1.86
1.82
1.77
1.67
1.66
1.63
1.57
1.59
1.56
1.48
2024
1.40
1.31
1.35
1.30
1.29
1.29
1.22
1.09
1.08
1.23
1.36
1.28
2025
1.34
1.65
1.65
1.59
1.40
1.42
1.42
1.58
1.53
1.43
1.44
1.46
2026
1.44
1.40
1.48
1.42
1.40
1.25
1.21
1.12
1.15
1.56
·
·
cheapestdearest

Frequently asked questions

What is the Nifty500 Shariah P/E ratio today?

The Nifty500 Shariah closed at a price-to-earnings ratio of 26.68 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 Nifty500 Shariah overvalued right now?

Against its own history it is slightly expensive: a P/E of 26.68 is the 67th percentile of 4,598 daily closes, against a median of 23.83 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 Nifty500 Shariah?

There is no single good number, but there is a measured middle: 18.20 to 32.63 is the middle 80% of 4,598 daily closes, and the median sits at 23.83. Below 18.20 is the cheapest tenth of this index's own history and above 32.63 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 Nifty500 Shariah P/B ratio?

The Nifty500 Shariah price-to-book ratio is 4.01 as of 27 October 2026, against a historical median of 4.26. 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 Nifty500 Shariah dividend yield?

The Nifty500 Shariah dividend yield is 1.44% as of 27 October 2026, against a historical median of 1.29%. 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

Nifty500 Multicap Infrastructure 50:30:20Nifty500 Multicap Momentum Quality 50Nifty500 Multifactor MQVLv 50Nifty500 Quality 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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