Data to 14 October 2026
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End of day, 14 Oct 2026

The Nifty 50 fell 0.4%; small caps fell 0.0%

It is 13.3% below its 52-week high and down 12.6% this year. Seven of 19 broad indices and eight of 23 sectors are above their 200-day averages.

The past year, by size of company total return with dividends, to 14 Oct 2026, on one scale

Nifty 50−9.0%

Midcap 150+1.7%

Smallcap 250+6.0%

Microcap 250+12.9%

Below its highest point so far in the year

Today

Nifty 50 −0.43% YTD −12.6% Nifty Bank −0.30% YTD −6.5% Next 50 +0.14% YTD +0.3% Nifty 500 −0.22% YTD −6.9% Midcap 150 −0.04% YTD −1.5% Smallcap 250 −0.01% YTD +7.4% Gold, 13 Oct −0.37% Domestic, rupees Rupee +0.13% vs dollar; YTD −5.9%

The lines under each figure: its last three months. Indices are total return with dividends; the rupee's line rises when the rupee strengthens.

Breadth 14 Oct

861 rose616 fell

52-week highs, lows
31 / 14
Above 200-day average
51% +1.1 pts
Above 50-day average
33% +3.3 pts

Of 1,479 liquid NSE stocks.

Flows 14 Oct

Domestic institutions
+₹2,670 cr
Foreign investors, NSDL
−₹1,436 cr

By investor type on 12 Oct, the latest full day:

Mutual funds
+₹1,747 cr
Individuals
+₹871 cr
Foreign investors
+₹545 cr

Biggest moves 14 Oct

  1. SSRETAIL+10.9%
  2. CHENNPETRO+5.9%
  3. ADANIENSOL+5.2%
  4. ADANIPOWER+4.9%
  5. BHEL+4.9%
  1. MEESHO−5.1%
  2. SHRIRAMFIN−3.8%
  3. KANOHAR−3.6%
  4. CHOLAFIN−3.6%
  5. WELCORP−3.5%

Among the 100 most-traded NSE stocks.

Sectors today 7 of 23 rose

  1. IT+1.2%
  2. FMCG+1.2%
  3. Oil & Gas+1.0%
  4. Chemicals+0.9%
  5. Media+0.6%
  6. PSU Bank+0.3%
  7. Consumer Durables+0.2%
  8. MidSmall IT & Telecom−0.1%
  9. REITs & Realty−0.3%
  10. Bank−0.3%
  11. Cement−0.4%
  12. Metal−0.6%
  13. Private Bank−0.6%
  14. MidSmall Financial Services−0.6%
  15. MidSmall Healthcare−0.7%
  16. Realty−0.9%
  17. Auto−0.9%
  18. Nifty500 Healthcare−1.1%
  19. Financial Services−1.1%
  20. Financial Services 25/50−1.2%
  21. Healthcare−1.2%
  22. Pharma−1.3%
  23. Financial Services Ex-Bank−1.6%

How the main indices have moved

−5%−2.5%0+2.5% +0.8% Nifty Microcap 250−0.3% Nifty Smallcap 250−1.8% Nifty Next 50−1.9% Nifty 500−2.1% Nifty 50−2.4% Nifty Midcap 150 15 Sept21 Sept25 Sept1 Oct8 Oct14 Oct −5%−2.5%0+2.5% 15 Sept29 Sept14 Oct
−5%0+5% +2.4% Nifty Microcap 250−1.2% Nifty Smallcap 250−4.0% Nifty Next 50−5.0% Nifty 500−5.6% Nifty Midcap 150−5.8% Nifty 50 15 Jul3 Aug19 Aug7 Sept24 Sept14 Oct −5%0+5% 15 Jul28 Aug14 Oct
−20%−10%0+10% +12.9% Nifty Microcap 250+6.0% Nifty Smallcap 250+2.1% Nifty Next 50+1.7% Nifty Midcap 150−4.1% Nifty 500−9.0% Nifty 50 14 Oct24 Dec9 Mar22 May4 Aug14 Oct −20%−10%0+10% 14 Oct16 Apr14 Oct
0+25%+50%+75% +58.3% Nifty Microcap 250+55.8% Nifty Next 50+46.4% Nifty Midcap 150+45.8% Nifty Smallcap 250+30.4% Nifty 500+18.8% Nifty 50 Oct 23May 24Dec 24Jul 25Mar 26Oct 26 0+25%+50%+75% Oct 23Apr 25Oct 26
0+50%+100%+150% +148.6% Nifty Microcap 250+86.6% Nifty Midcap 150+86.0% Nifty Smallcap 250+61.7% Nifty Next 50+47.0% Nifty 500+30.9% Nifty 50 Oct 21Oct 22Oct 23Oct 24Oct 25Oct 26 0+50%+100%+150% Oct 21Apr 24Oct 26

Total return with dividends, from the start of the window to 14 Oct 2026. NSE Indices; returns only.

Coming up

  1. Wed, 14 Oct

    • TCSInterim dividend of ₹12 a share, ex-date
    • VEDLInterim dividend of ₹5 a share, ex-date
    • Fusion CX LimitedIPO opens, closes 16 Oct
    • Ravita Engineering Services LimitedSME IPO opens, closes 16 Oct
    • WPI inflationFor Sep 2026
    • BHELResults
    • CANBKResults, period ended Sep 2026
    • GROWWResults, period ended Sep 2026
    • ICICIGIResults, dividend, period ended Sep 2026

  2. Thu, 15 Oct

    • Bonfiglioli Transmissions LimitedIPO opens, closes 19 Oct
    • HD Fire Protect LimitedIPO closes
    • Ravita Engineering Services LimitedSME IPO closes
    • Sahajanand Medical Technologies LimitedIPO opens, closes 19 Oct
    • Tonbo Imaging India LimitedIPO opens, closes 19 Oct
    • Vaibhav Vyapaar LimitedSME IPO closes
    • Zetwerk Manufacturing Businesses LimitedIPO opens, closes 19 Oct
    • Unemployment (PLFS)For Sep 2026 (expected)
    • ANGELONEResults, period ended Sep 2026
    • HDFCAMCResults, period ended Sep 2026
    • HDFCLIFEResults, fund raising, period ended Sep 2026
    • IIFLResults
    • JIOFINResults, period ended Sep 2026
    • LTFResults, period ended Sep 2026
    • NESTLEINDResults
    • PERSISTENTResults, period ended Sep 2026
    • POLYCABResults, period ended Sep 2026
    • TECHMResults, dividend, bonus issue, period ended Sep 2026
    • WIPROResults, period ended Sep 2026

  3. Fri, 16 Oct

    • HCLTECHInterim dividend of ₹12 a share, ex-date
    • DLFResults, period ended Sep 2026
    • FEDERALBNKResults, period ended Sep 2026
    • HSCLResults, period ended Sep 2026
    • LTMResults, dividend, period ended Sep 2026
    • PNBResults, period ended Sep 2026

  4. Sat, 17 Oct

    • AXISBANKResults, period ended Sep 2026
    • HDFCBANKResults
    • ICICIBANKResults
    • YESBANKResults, period ended Sep 2026

  5. Mon, 19 Oct

    • BAJFINANCEResults, period ended Sep 2026
    • HINDZINCResults, period ended Sep 2026
    • ULTRACEMCOResults, period ended Sep 2026
    • UNIONBANKResults, period ended Sep 2026

  6. Wed, 21 Oct

    • ADANIGREENResults, period ended Sep 2026
    • ETERNALResults, period ended Sep 2026
    • INDHOTELResults, period ended Sep 2026

  7. Thu, 22 Oct

    • ANGELONEInterim dividend, ex-date
    • ADANIENSOLResults, period ended Sep 2026
    • CHENNPETROResults, period ended Sep 2026
    • HINDPETROResults, period ended Sep 2026
    • SWIGGYResults, period ended Sep 2026

  8. Fri, 23 Oct

    • LTMDividend, ex-date
    • ADANIPOWERResults, period ended Sep 2026
    • BPCLResults, period ended Sep 2026
    • COFORGEResults, period ended Sep 2026
    • DRREDDYResults, period ended Sep 2026
    • GODREJPROPResults, period ended Sep 2026
    • INDUSINDBKResults
    • INFYResults, dividend, period ended Sep 2026
    • JSWSTEELResults, period ended Sep 2026
    • TMCVResults, period ended Sep 2026
    • TORNTPHARMResults

  9. Sat, 24 Oct

    • AUBANKResults, period ended Sep 2026
    • IDFCFIRSTBResults, period ended Sep 2026
    • KOTAKBANKResults, period ended Sep 2026

  10. Mon, 26 Oct

    • SONACOMSResults, period ended Sep 2026

  11. Tue, 27 Oct

    • BAJAJ-AUTOResults, period ended Sep 2026
    • CIPLAResults, period ended Sep 2026
    • INDUSTOWERResults, period ended Sep 2026
    • LTResults, period ended Sep 2026
    • MARUTIResults, period ended Sep 2026
    • RADICOResults, period ended Sep 2026

  12. Wed, 28 Oct

    • Industrial productionFor Sep 2026 (expected)
    • Services productionFor Aug 2026 (expected)
    • ADANIENTResults, period ended Sep 2026
    • ADANIPORTSResults, period ended Sep 2026
    • ANANTRAJResults, period ended Sep 2026
    • CHOLAFINResults, period ended Sep 2026
    • HEROMOTOCOResults, period ended Sep 2026
    • HINDUNILVRResults, dividend, period ended Sep 2026
    • PIDILITINDResults, period ended Sep 2026

Results dates and corporate actions for the 200 most-traded NSE stocks (stocks.events), as announced; companies can move them. IPOs: NSE. RBI: the MPC's schedule. Data releases: MoSPI's usual release dates, which holidays can shift. Every company, 90 days ahead, with expiries and holidays.

How did the broad market do?

Five of these 10 indices are in an uptrend by the 10-month rule at the end of Sept 2026. Over a year the best was the Nifty Microcap 250 (+12.9%) and the weakest the Nifty 50 (−9.0%).

Total returns with dividends, to 14 Oct 2026. 3Y and 5Y are annualised. Momentum is the return over the twelve months to a month ago, and its rank among 19 broad indices.
Index 52 weeks1D1W1M3MYTD1Y3Y5YOff highTrendMomentum
Nifty 50 −0.4%+0.1%−3.3%−5.7%−12.6%−9.0%+5.9%+5.5%−13.3%Downsince Jan ’26−1%19/19
Nifty Next 50 +0.1%−0.5%−4.2%−3.6%+0.3%+2.1%+16.0%+10.1%−7.6%Downsince Oct ’26+10%11/19
Nifty 100 −0.3%0.0%−3.5%−5.3%−10.4%−7.1%+7.5%+6.1%−11.2%Downsince Sep ’26+1%18/19
Nifty 500 −0.2%−0.1%−3.6%−4.8%−6.9%−4.1%+9.3%+8.0%−7.8%Downsince Sep ’26+4%15/19
Nifty Midcap 150 0.0%−0.1%−4.5%−5.2%−1.5%+1.7%+13.6%+13.3%−7.3%Downsince Sep ’26+13%6/19
Nifty Smallcap 250 0.0%−0.5%−2.7%−0.5%+7.4%+6.0%+13.5%+13.2%−3.7%Upsince Apr ’26+11%10/19
Nifty Microcap 250 +0.7%−0.8%−2.5%+3.0%+15.7%+12.9%+16.8%+20.0%−3.0%Upsince Apr ’26+16%3/19
Nifty LargeMidcap 250 −0.2%−0.1%−4.0%−5.2%−6.0%−2.8%+10.6%+9.8%−7.6%Downsince Sep ’26+7%13/19
Nifty MidSmallcap 400 0.0%−0.2%−3.9%−3.6%+1.4%+3.1%+13.5%+13.3%−5.9%Downsince Oct ’26+12%8/19
Nifty500 LargeMidSmall Equal-Cap Weighted −0.1%−0.2%−3.6%−3.7%−1.6%+0.2%+11.7%+11.0%−5.8%Downsince Oct ’26+8%12/19

All 125 NSE indices, with risk and filters · What the trend and momentum rules say

Equity, debt, gold and the world, and simple mixes of them

What each asset class returned to an investor in rupees, then what plain mixes of Indian equity, G-secs and gold earned. These simple mixes are the fairer first look. The portfolio lab ranks all 141 portfolios, but its top places go to factor indices whose early years are NSE's back-tests, worked out before the index existed (5 of the top 5).

Asset classes, in rupees

AssetClass1MYTD1Y3Y5YBelow peak
Large caps (Nifty 50)Indian equity −3.3%−12.6%−9.0% +5.9%+5.5% −13%
Mid caps (Midcap 150)Indian equity −4.5%−1.5%+1.7% +13.6%+13.3% −7%
Small caps (Smallcap 250)Indian equity −2.7%+7.4%+6.0% +13.5%+13.2% −4%
G-sec, 5-yearIndian debt −1.4%+2.3%+2.9% +7.1%+5.9% −2%
Cash (91-day T-bill)Indian debt +0.5%+4.3%+5.5% +6.2%+6.0% 0%
Gold (domestic)Commodities −2.9%+9.9%+17.1% +36.3%+25.2% −16%
SilverCommodities −6.0%−11.7%+25.6% +45.4%+26.6% −48%
Broad commoditiesCommodities +0.5%+68.3%+73.2% +23.5%+21.4% −2%
US large caps (S&P 500)Global +1.8%+22.0%+27.5% +28.9%+19.4% −2%
Developed markets ex-USGlobal −3.3%+16.1%+23.7% +23.8%+14.3% −5%
Emerging marketsGlobal −3.8%+27.7%+34.0% +28.4%+12.8% −7%
US Treasuries, 7-10 yearsGlobal −1.7%+1.6%+3.0% +7.8%+2.8% −5%

Total returns. Indian equity: NSE total-return indices. G-sec: NSE 5-year benchmark G-sec index. Gold: domestic price including import duty. Silver, commodities and the overseas rows: issuer NAVs of US-listed ETFs (SLV, GSG, IVV, EFA, EEM, IEF) converted to rupees at ECB reference rates, so they include the rupee's move.

Simple portfolios

Mixes of the same Indian assets, rebalanced once a year, after fund costs. Since 2005, 60/40 kept 11.4% a year after tax with a worst fall of −36%, against 12.6% and −64% for all equity.

PortfolioYTD1Y3Y5Y10YSince 2005, after taxWorst fall
All equityNifty 500 −6.7%−4.8%+9.1% +7.8%+12.5% 12.6%−64%
70/30Nifty 500, G-sec −4.0%−2.5%+8.6% +7.2%+10.9% 11.9%−43%
60/40Nifty 500, G-sec −3.1%−1.8%+8.4% +7.0%+10.4% 11.4%−36%
50/50Nifty 500, G-sec −2.2%−1.0%+8.1% +6.8%+9.8% 10.8%−30%
60/20/20Nifty 500, G-sec, gold −2.1%+2.3%+14.4% +11.1%+12.6% 13.0%−36%
Equal thirdsNifty 500, G-sec, gold +1.0%+7.0%+17.8% +13.1%+12.5% 12.3%−19%
60/40 with a trend ruleequity to cash below its 10-month average −8.6%−7.3%+5.4% +3.6%+7.3% 9.7%−21%
GTAAeach asset held only above its 10-month average −3.8%+0.9%+13.9% +9.5%+9.5% 9.8%−18%
Dual momentumthe stronger of equity and gold, if it beats cash +7.9%+21.1%+30.6% +16.3%+15.6% 11.9%−45%

YTD to 10Y: before tax, from the lab's weekly curves to 2026-10-14. "Since 2005, after tax" is for a 30% slab taxpayer selling at the end; worst fall is the deepest peak-to-trough over the whole window. The trend rules switch on month-end closes. These are historical tests, not recommendations.

Commodities, daily

Commodity52 weeks1D1W1MYTD1Y
Precious metals, MCX, in rupees
Silver −1.3%−1.4%−5.1%−5.4%+52.2%
Gold −1.3%+0.2%−2.1%+10.4%+23.2%
Base metals, MCX, in rupees
Copper −0.2%+1.0%+3.3%+10.8%+47.0%
Zinc −0.4%+1.7%+0.4%+36.7%+44.0%
Aluminium −1.1%−2.0%−4.8%+11.7%+26.8%
Nickel −0.4%−1.3%−4.8%−5.2%+17.1%
Lead −0.5%+0.2%−1.1%+6.3%+6.1%
Energy, MCX, in rupees
Electricity −1.4%+0.8%−0.9%+60.6%+126.3%
Crude oil +1.1%+3.6%−5.7%+72.3%+71.2%
Natural gas −3.7%+2.4%+12.1%−10.4%+9.7%
Agriculture, MCX, in rupees
Mentha oil +1.9%−0.4%+8.8%+30.0%+40.2%
Cardamom −0.7%0.0%−1.0%+25.1%+30.7%
Global energy, in dollars
Brent crude −0.1%+10.1%+22.7%+104.5%+87.0%
WTI crude +0.1%+0.1%+3.8%+68.1%+54.0%
US natural gas (Henry Hub) +2.4%−4.7%+3.8%−24.3%−8.7%

MCX futures to 12 Oct 2026 (captured 13 Oct 2026; the capture is manual and can lag). 1D compares the most-traded contract with its own previous close; longer periods compare the most-active contract's price now and then, as MCX prices are usually quoted. Brent, WTI and Henry Hub to 6 Oct 2026: EIA via FRED. Returns only.

Which asset won each year

In the 11 full years from 2015 to 2025, Indian small caps came first 4 times, gold 4 and US stocks 3. Large caps topped the table in no year.

2026 YTD
  1. EM+28
  2. US+22
  3. Gold+10
  4. Small+7
  5. Cash+4
  6. G-sec+2
  7. Mid−2
  8. Large−13
2025
  1. Gold+76
  2. EM+40
  3. US+24
  4. Large+12
  5. G-sec+8
  6. Mid+6
  7. Cash+6
  8. Small−5
2024
  1. US+29
  2. Small+27
  3. Mid+24
  4. Gold+20
  5. Large+10
  6. EM+10
  7. G-sec+8
  8. Cash+7
2023
  1. Small+49
  2. Mid+45
  3. US+27
  4. Large+21
  5. Gold+16
  6. EM+10
  7. G-sec+8
  8. Cash+7
2022
  1. Gold+14
  2. Large+6
  3. Cash+5
  4. Mid+4
  5. G-sec+2
  6. Small−3
  7. US−9
  8. EM−12
2021
  1. Small+63
  2. Mid+48
  3. US+31
  4. Large+26
  5. Cash+3
  6. G-sec+3
  7. EM−2
  8. Gold−4
2020
  1. Gold+28
  2. Small+26
  3. Mid+26
  4. US+21
  5. EM+20
  6. Large+16
  7. G-sec+12
  8. Cash+4
2019
  1. US+35
  2. Gold+23
  3. EM+21
  4. Large+13
  5. G-sec+11
  6. Cash+6
  7. Mid+1
  8. Small−7
2018
  1. Gold+8
  2. G-sec+7
  3. Cash+7
  4. Large+5
  5. US+4
  6. EM−7
  7. Mid−13
  8. Small−26
2017
  1. Small+58
  2. Mid+56
  3. Large+30
  4. EM+28
  5. US+15
  6. Cash+6
  7. G-sec+5
  8. Gold+5
2016
  1. US+15
  2. EM+13
  3. G-sec+12
  4. Gold+11
  5. Cash+7
  6. Mid+7
  7. Large+4
  8. Small+1
2015
  1. Small+11
  2. Mid+10
  3. G-sec+9
  4. Cash+8
  5. US+6
  6. Large−3
  7. Gold−7
  8. EM−11

Calendar-year total returns in rupees, %. Indian equities: NSE total-return indices. US and emerging markets: issuer NAVs of US-listed ETFs (IVV, EEM) converted at ECB reference rates. Gold, G-sec and cash as in the portfolio lab.

What the Tipsheet models hold

Each model is a rule I wrote down before seeing its result and now track in public. Across 48 of them the average share in equity is 34%; ten are fully in equity and 15 hold none. Each is graded against a benchmark that holds the same assets in fixed shares, and none of the 44 has beaten its benchmark by more than luck would explain; that is why a plain benchmark sits on the board too.

ModelIndia onlyWith global
Trend 15% invested, 85% cash 28% invested, 72% cash
Nifty 500 trend Cash since Sept 2026 –
GTAA 33% G-secs, 67% cash since Sept 2026 25% S&P 500, 25% G-secs, 50% cash since Sept 2026
Dual momentum Gold since Dec 2024 G-secs since Mar 2026
Size rotation G-secs since Mar 2026 –
Sector rotation 33% Metal, 33% Healthcare, 33% Auto since May 2026 –
Factor rotation 50% Nifty500 Value 50, 50% Nifty200 Momentum 30 since Sept 2026 –
Dynamic allocation 71% G-secs, 29% Nifty 500 since Sept 2026 –
1/N 20% Nifty 100, 20% Midcap 150, 20% Smallcap 250, 20% gold, 20% G-secs since Apr 2005 17% Nifty 100, 17% Midcap 150, 17% Smallcap 250, 17% gold, 17% G-secs, 17% S&P 500 since Apr 2005
Robust trend 20% Smallcap 250, 20% gold, 10% G-secs, 50% cash since Sept 2026 –
Robust equity momentum – S&P 500 since Oct 2026
Adaptive allocation – 53% S&P 500, 40% Midcap 150, 6% Smallcap 250 since Sept 2026
Countercyclical 62% G-secs, 38% Nifty 500 since Sept 2026 –
Benchmark 60% Nifty 500, 20% G-secs, 20% gold –

Holdings as of 14 Oct 2026: each rule's target at its last decision. The trend models size each market by its trend score each week, so they show how much is invested. The bar is the share in equity, Indian and foreign. Monthly rules decide on the last session of each month. These are rules tracked in public, not advice.

Every model, its record and how it is graded · The Tipsheet indices · What's new on the site

The Tipsheet indices today

The same rules as index levels, the way an index provider publishes them: total return, before any fund cost or tax, so they compare directly with NSE's indices. Each is a rule applied to public index data; none can be bought.

14 Oct 2026: 3 of 18 Tipsheet indices rose; the Nifty 500 fell 0.22%. Total return, before any cost or tax.

Trend

Trend India 0.00% YTD +1.0% · 1Y +3.6% Trend Global −0.07% YTD +3.5% · 1Y +6.2% Robust Trend −0.01% YTD −2.7% · 1Y −0.5% Nifty 500 Trend +0.02% YTD −15.4% · 1Y −12.8% Dynamic Allocation −0.18% YTD −1.9% · 1Y −0.7% Nifty 500 (NSE) −0.22% YTD −6.9% · 1Y −4.1%

Tactical allocation

GTAA India −0.04% YTD −3.0% · 1Y +0.2% GTAA Global −0.17% YTD +2.5% · 1Y +6.3% Dual Momentum India, 13 Oct −0.37% YTD +9.9% · 1Y +17.1% Dual Momentum Global −0.16% YTD +1.4% · 1Y +2.7%

Rotation within equity

Size Rotation −0.16% YTD −7.8% · 1Y −7.6% Robust Equity Momentum −0.54% YTD +12.5% · 1Y +15.6% Sector Rotation −0.92% YTD +0.1% · 1Y +3.0% Factor Rotation +0.05% YTD −0.4% · 1Y +2.2%

Diversified mixes

1/N India −0.11% YTD +2.3% · 1Y +4.9% 1/N Global −0.18% YTD +5.2% · 1Y +8.3% Adaptive Allocation −0.31% YTD −1.6% · 1Y +0.4% Countercyclical −0.18% YTD −1.1% · 1Y +0.3% Multi-Asset 60/20/20 −0.16% YTD −1.7% · 1Y +1.8%

The line under each figure is its last three months. A date beside a name marks an index whose holding had no new price since then (gold and the G-sec index are carried forward on days without one); the move shown is its last. Levels before each index's launch in October 2026 are back-calculated.

Trend

Growth of 100 over the last year, weekly; drag the range below to change the start.

Trend IndiaTrend GlobalRobust TrendNifty 500 TrendDynamic AllocationNifty 500 (NSE)

Loading chart…

Source: tipsheet models, from NSE total-return indices and the other series in the method
Method JSON

Tactical allocation

Growth of 100 over the last year, weekly; drag the range below to change the start.

GTAA IndiaGTAA GlobalDual Momentum IndiaDual Momentum GlobalNifty 500 (NSE)

Loading chart…

Source: tipsheet models, from NSE total-return indices and the other series in the method
Method JSON

Rotation within equity

Growth of 100 over the last year, weekly; drag the range below to change the start.

Size RotationRobust Equity MomentumSector RotationFactor RotationNifty 500 (NSE)Nifty LargeMidcap 250 (NSE)Nifty500 Multicap 50:25:25 (NSE)

Loading chart…

Source: tipsheet models, from NSE total-return indices and the other series in the method
Method JSON

Diversified mixes

Growth of 100 over the last year, weekly; drag the range below to change the start.

1/N India1/N GlobalAdaptive AllocationCountercyclicalMulti-Asset 60/20/20Nifty 500 (NSE)

Loading chart…

Source: tipsheet models, from NSE total-return indices and the other series in the method
Method JSON

Every Tipsheet index, its history and how it is built

What a monthly SIP earned

Rs 10,000 a month, started in any month from Apr 2005 and held ten years, after fund costs and tax. The Nifty Midcap 150 did best at the median (16.9% a year) and the 5-year G-sec worst (7.4%), against 4.6% for the same instalments in fixed deposits. Recent starts are less settled. Of SIPs begun in the last 36 months, 28 in the Nifty 100 would return less than went in if sold today, after tax; in the equal four-asset mix, none.

What a 5- and 10-year SIP returned

After-tax XIRR of every window, Rs 10,000 a month, per cent a year

How to read it. The dot is the median window and the bar the middle half. The shaded column is the fixed-deposit SIP on the same dates. On the right, how many separate periods the windows add up to: windows a month apart share almost every month, so ten-year results rest on 2 periods.

What a 5- and 10-year SIP returned. 2 horizons, 7 bands. Nifty 100: median +12.8%, 4 periods; Nifty LargeMidcap 250: median +15.5%, 4 periods; Nifty Midcap 150: median +17.9%, 4 periods; Nifty Smallcap 250: median +16.7%, 4 periods; Gold: median +10.0%, 4 periods; G-sec, 5-year: median +6.4%, 4 periods; Four assets, equal quarters: median +12.8%, 4 periods. Fixed deposit: median +4.9%.

Source: tipsheet portfolio lab, computed from NSE total-return indices, the NSE 5-year benchmark G-sec index, domestic gold in rupees (World Gold Council), and RBI's bank deposit rates for fixed deposits.
Method

Where a SIP stands today, by the month it began

After-tax XIRR to 8 Oct 2026 of a SIP started in each month since Apr 2005, sold today

How to read it. Read each panel from the right: the latest starts have had a year or two, so they swing with the last few months of the market. Starts from before 2020 have had time to settle. Below zero, the SIP is worth less than what was put in.

Where a SIP stands today, by the month it began. Small multiples, Apr 2005 to Oct 2025. Nifty 100: latest −14.0%, range −14.0% to 10.7%. Nifty LargeMidcap 250: latest −10.3%, range −10.3% to 13.2%. Nifty Midcap 150: latest −6.0%, range −6.0% to 16.2%. Nifty Smallcap 250: latest 6.2%, range 3.1% to 17.4%. Gold: latest 4.4%, range 4.4% to 30.6%. G-sec, 5-year: latest 1.8%, range 1.8% to 6.6%. 8 series in all; the table view lists every value.

Midcap 150, Smallcap 250 and LargeMidcap 250 are NSE back-tests before their launches (2016 and 2017).
Source: tipsheet portfolio lab, computed from NSE total-return indices, the NSE 5-year benchmark G-sec index, domestic gold in rupees (World Gold Council), and RBI's bank deposit rates for fixed deposits.

Tax is for a 30% slab investor selling everything at the end, with the yearly equity exemption. Before tax, the ten-year medians were 0.3 to 0.6 points higher. Four assets is a quarter each in LargeMidcap 250, Smallcap 250, gold and G-sec, rebalanced each January. Historical tests, not advice.

The SIP studies: every horizon, before and after tax, and the popular refinements

Which sectors lead?

Over three months the Nifty Media led (+8.8%) and the Nifty Cement trailed (−11.3%), a spread of 20 points. Eight of 23 sector indices are above their 200-day average. Sorted by three-month return; click a heading to re-sort.

NSE sector indices, total returns.
Index 52 weeks1D1W1M3MYTD1Y3Y5YOff highTrendMomentum
Nifty Media +0.6%+4.0%+6.8%+8.8%+14.0%+6.6%−10.4%−6.4%At highUpsince Jun ’26+1%19/23
Nifty IT +1.2%+8.8%+4.4%+5.5%−19.2%−12.4%+0.4%−1.3%−22.5%Downsince Feb ’26−5%21/23
Nifty MidSmall IT & Telecom −0.1%+4.0%+1.6%+5.4%+0.5%+6.5%+7.9%+7.1%−3.7%Upsince Jul ’26+14%8/23
Nifty Pharma −1.3%−2.6%−3.0%−0.5%+13.9%+17.5%+19.9%+12.6%−5.3%Upsince Apr ’26+27%3/23
Nifty PSU Bank +0.3%+1.0%−2.2%−1.7%−3.6%+8.3%+18.2%+25.9%−16.8%Downsince Sep ’26+15%7/23
Nifty Private Bank −0.6%+0.2%−1.0%−2.4%−4.8%−1.3%+6.3%+6.5%−6.4%Downsince Aug ’26+6%14/23
Nifty MidSmall Healthcare −0.7%−2.8%−5.0%−2.9%+13.5%+12.9%+23.0%+14.9%−6.7%Upsince Apr ’26+22%4/23
Nifty Chemicals +0.9%+1.1%−3.9%−3.0%−1.0%−0.8%+7.2%+3.7%−7.3%Downsince Sep ’26+6%15/23
Nifty Bank −0.3%+0.5%−2.3%−3.6%−6.5%−1.4%+8.5%+7.9%−9.5%Downsince Jul ’26+7%13/23
Nifty500 Healthcare −1.1%−2.7%−5.7%−3.9%+9.5%+8.0%+19.1%+12.4%−7.4%Upsince May ’26+20%6/23
Nifty REITs & Realty −0.3%−0.3%−2.1%−4.5%+1.2%+1.6%+16.6%+12.1%−5.8%Downsince Oct ’26+7%12/23
Nifty Healthcare −1.2%−2.5%−5.0%−4.6%+7.5%+7.2%+18.3%+12.2%−7.5%Upsince Apr ’26+20%5/23
Nifty Auto −0.9%+0.1%−7.9%−4.9%−9.8%−4.6%+16.3%+17.4%−15.1%Downsince Sep ’26+10%10/23
Nifty Metal −0.6%−2.3%−7.5%−5.1%+8.7%+20.1%+21.8%+16.3%−11.8%Downsince Oct ’26+33%1/23
Nifty Consumer Durables +0.2%+0.7%−6.0%−5.2%−0.1%−3.0%+8.3%+4.3%−10.4%Downsince Oct ’26+9%11/23
Nifty MidSmall Financial Services −0.6%+0.8%−6.3%−5.6%+2.8%+11.6%+23.1%+19.8%−7.9%Downsince Oct ’26+29%2/23
Nifty Oil & Gas +1.0%−1.6%−4.4%−5.6%−14.0%−7.2%+10.8%+6.4%−14.8%Downsince Mar ’26−1%20/23
Nifty Financial Services −1.1%+0.1%−2.3%−5.8%−8.9%−6.2%+9.0%+6.7%−11.6%Downsince Mar ’26+2%18/23
Nifty FMCG +1.2%+1.1%+0.5%−6.5%−17.8%−15.7%−3.3%+3.5%−19.5%Downsince Sep ’25−15%23/23
Nifty Financial Services Ex-Bank −1.6%0.0%−6.3%−6.9%−6.6%−2.0%+13.5%+9.8%−10.6%Downsince Sep ’26+12%9/23
Nifty Financial Services 25/50 −1.2%+0.1%−3.0%−7.2%−10.4%−6.6%+10.3%+8.3%−12.7%Downsince Mar ’26+2%17/23
Nifty Realty −0.9%0.0%−3.0%−10.1%−5.9%−6.9%+10.7%+9.2%−14.7%Downsince Oct ’26+5%16/23
Nifty Cement −0.4%−1.1%−5.9%−11.3%−17.6%−21.8%+0.5%+1.7%−22.6%Downsince Nov ’25−13%22/23

Themes and strategies: the extremes

The five best and worst of 81 theme and strategy indices over a month and over a year. Many share stocks with each other and with the sectors, so read these as where the market's money went, not as separate bets.

One month

  1. Nifty Waves+2.9%
  2. Nifty SME Emerge+0.2%
  3. Nifty50 Shariah−0.8%
  4. Nifty Shariah 25−1.0%
  5. Nifty500 Flexicap Quality 30−1.3%
  1. Nifty India Corporate Group Index - Aditya Birla Group−8.5%
  2. Nifty India Internet−7.5%
  3. Nifty India Corporate Group Index - Mahindra Group−6.7%
  4. Nifty Conglomerate 50−6.5%
  5. Nifty Transportation & Logistics−6.5%

One year

  1. Nifty India Defence+17.1%
  2. Nifty Capital Markets+14.8%
  3. Nifty IPO+11.6%
  4. Nifty High Beta 50+9.8%
  5. Nifty REITs & InvITs+9.1%
  1. Nifty India Railways PSU−23.6%
  2. Nifty India Tourism−14.2%
  3. Nifty Top 10 Equal Weight−12.5%
  4. Nifty Top 15 Equal Weight−11.9%
  5. Nifty50 Shariah−10.8%

Is leadership changing?

Each sector's return against the Nifty 500, in percentage points, over six months and over the last month. A sector moving from leading to weakening is losing its lead; one moving from lagging to improving is catching up. It is a picture of the recent past: my test of a sector-momentum rule found no reliable edge in it (see sector rotation).

Leading 7

Ahead over six months and over the last month

Sector6M1M
Media+20.8+10.4
MidSmall IT & Telecom+19.8+5.2
Pharma+16.9+0.6
Realty+9.1+0.6
REITs & Realty+5.9+1.5
Private Bank+2.3+2.6
Bank+0.1+1.3

Weakening 6

Ahead over six months, behind in the last month

Sector6M1M
MidSmall Healthcare+15.2−1.4
Nifty500 Healthcare+13.0−2.1
Healthcare+11.0−1.4
Chemicals+6.5−0.3
MidSmall Financial Services+4.9−2.7
Consumer Durables+1.1−2.4

Improving 5

Behind over six months, ahead in the last month

Sector6M1M
IT−0.7+8.0
FMCG−4.3+4.1
PSU Bank−5.6+1.4
Financial Services−3.5+1.3
Financial Services 25/50−5.0+0.6

Lagging 5

Behind over six months and over the last month

Sector6M1M
Oil & Gas−4.9−0.8
Cement−9.9−2.3
Financial Services Ex-Bank−1.5−2.7
Metal−1.8−3.9
Auto−2.7−4.3

How have the years gone?

Calendar-year total returns for the main broad indices, newest first. Below, each year of six of them set against the worst fall inside that year. The Nifty 50 fell 10% or more from a peak in 21 of its 26 full years since 2000, and 16 of those years still ended higher. The median year's worst fall was −15% for the Nifty 50, −22% for the Smallcap 250 and −23% for the Microcap 250 (since 2006).

Calendar-year total return, %. Colour saturates at ±50%.
2026 YTD202520242023202220212020201920182017
Nifty 50 −13+12+10+21+6+26+16+13+5+30
Nifty Next 50 0+3+28+27+1+31+16+2−8+48
Nifty 100 −10+10+13+21+5+26+16+12+3+33
Nifty 500 −7+8+16+27+4+32+18+9−2+38
Nifty Midcap 150 −2+6+24+45+4+48+26+1−13+56
Nifty Smallcap 250 +7−5+27+49−3+63+26−7−26+58
Nifty Microcap 250 +16−10+35+67+10+78+38−24−27+76
Nifty LargeMidcap 250 −6+8+19+33+4+37+21+6−5+44
Nifty MidSmallcap 400 +1+2+25+46+2+53+26−2−17+57
Nifty500 LargeMidSmall Equal-Cap Weighted −2+4+22+38+2+46+23+2−13+49

Nifty 50

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Nifty Next 50

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Nifty 500

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Nifty Midcap 150

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Nifty Smallcap 250

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Nifty Microcap 250

Total return over the calendar year, % Largest fall from a peak within that year, %
Source: NSE Indices, total return with dividends.

Bars: the calendar-year total return with dividends. Red marks: the largest fall from a peak within the year, counting the previous year-end as the first peak. The last bar is the year to 14 Oct 2026.

Calendar years for every index family

What the market costs

7 of 22 indices trade at a P/E above the middle of their own history. The Nifty 50's P/E of 19.3 is higher than 61% of weeks since 1999. Its price to book, which NSE's 2021 change in how it counts earnings did not affect, sits at the 10th percentile. Among sectors with ten years or more of comparable history, Nifty Pharma is dearest against its own past (75th percentile) and Nifty PSU Bank cheapest (23th).

IndexP/EWhere it sitsP/BWhere it sitsDividend yield
Broad market
Nifty Smallcap 100 37.7 94since 2021* 3.76 81since 2011 0.62%
Nifty 500 21.7 65since 1999 3.09 46since 1999 0.93%
Nifty 50 19.3 61since 1999 2.78 10since 1999 1.10%
Nifty Smallcap 250 34.4 56since 2016 3.43 63since 2016 0.58%
Nifty MidSmallcap 400 30.2 49since 2021* 3.67 66since 2016 0.60%
Nifty 100 19.1 45since 2005 2.87 13since 2005 1.07%
Nifty Midcap 100 28.0 41since 2021* 3.78 82since 2005 0.60%
Nifty Midcap 150 28.3 40since 2021* 3.82 67since 2016 0.62%
Nifty 200 20.4 38since 2011 3.01 27since 2011 0.98%
Nifty Next 50 18.1 36since 1999 3.31 57since 1999 0.94%
Nifty LargeMidcap 250 22.8 9since 2021* 3.27 22since 2017 0.84%
Sectors
Nifty Pharma 39.8 75since 2005 4.85 36since 2005 0.60%
Nifty Energy 14.5 68since 2005 2.00 47since 2005 1.17%
Nifty Infrastructure 21.5 53since 2021* 2.55 51since 2007 0.83%
Nifty Auto 29.2 46since 2021* 3.93 14since 2011 1.06%
Nifty FMCG 31.4 43since 1999 7.52 15since 1999 0.93%
Nifty Metal 15.8 37since 2021* 2.55 87since 2011 1.20%
Nifty IT 18.7 36since 1999 5.28 23since 1999 2.25%
Nifty Bank 13.1 34since 2003 1.67 6since 2003 0.66%
Nifty Financial Services 15.3 27since 2011 2.30 3since 2011 0.91%
Nifty PSU Bank 7.4 23since 2007 1.13 43since 2007 0.75%
Nifty Realty 34.8 5since 2021* 3.59 73since 2007 0.47%

Percentile: the share of weekly readings since the year shown at or below today's. P/E is on NSE's consolidated-earnings basis; before the switch on 31 Mar 2021, earlier earnings are scaled by each index's switch-day ratio. * Where that ratio is implausible (Auto, Metal, Realty, Midcap 100 and others), only the history since the switch is used. P/B has no break at the switch. Dividend yield is implied by the gap between the total-return and price indices. Source: NSE Indices; method in valuation.

CAPE, yield gaps and what valuation has said about later returns

Beyond prices

Breadth 51% of liquid NSE stocks are above their 200-day average. Over a year the equal-weighted Nifty 500 is ahead of the index by 4.5 points. Flows, Sept 2026 −35,861₹ crore foreign investors' net equity buying. Domestic institutions +₹75,004 cr; individuals on the exchanges −₹3.1 cr. Valuation 19.3× P/E for the Nifty 50, higher than 61% of days since 1999. Market value 135% of GDP for NSE-listed companies. The ten largest hold 18.7% of it. Economy, Aug 2026 4.8% consumer inflation. Industrial output +8.0% on a year; the repo rate is 0.4 points above inflation.

More to explore

Pages deeper in the site, each with its latest number: who owns Indian shares, what is borrowed against them, what options cost, and where the fund money sits.

Foreign investors · Flows 2.72₹ lakh crore of Indian shares net sold by foreign investors in the year to 30 Sept 2026. Ownership · Flows 15.9% of NSE-listed companies' value owned by foreign investors at the end of Jun 2026. Mutual funds owned 11.6%. Margin trading (MTF) · Trading 1.49₹ lakh crore of shares held with broker funding, at purchase value, week to 12 Oct 2026. Small caps take 48% of it but are 19% of market value. F&O · Trading 15.6₹ lakh crore paid for options on NSE and BSE in Sept 2026: the money that changes hands, not the notional turnover. Capital raising · Trading 4.5₹ lakh crore of equity raised by Indian companies in FY25-26, against 9.1 lakh crore in bonds. Cap cut-offs · Funds 1.06₹ lakh crore average market cap needed to count as a large cap in the Jan-Jun 2026 list. In Jul-Dec 2017 it was ₹29,304 crore. Who sells them · Funds 26.8% of individuals' equity and hybrid fund money sits in direct plans, Jul 2026; the rest came through distributors. Portfolio managers · Funds 72% of portfolio managers' assets is provident-fund money, not individuals'. 2.2 lakh clients in all. By state · Funds 39.9% of India's mutual fund assets are in Maharashtra, down from 46.8% in Mar 2014. SIFs · Funds 38.3₹ thousand crore managed by specialised investment funds at the end of Sept 2026, the new tier between mutual funds and PMS.

What stands out today

Of the 51 readings with enough history to judge, 21 are outside their usual range. Each row is one reading, its dot placed between the lowest and highest it has ever been. The three furthest from usual are ringed, and described below.

Price

Breadth

Speculation

Buyers

Money

Economy

World

Funds

Each row is one reading, its dot placed by how today compares with its whole history: far left is the lowest it has ever been, far right the highest. Shown first: the 21 outside their usual range. Each row links to its full history.
  1. Mutual funds' share11.6%

    The highest reading since the series began in 2009.

  2. Margin book as a share of market value0.32%

    Above its usual range of 0.03% to 0.16%, among the highest readings since 2017. The record is 0.32%, in October 2026.

  3. US 10-year real yield2.91%

    Above its usual range of 0.31% to 1.89%, among the highest readings since 2003. The record is 3.15%, in November 2008.

Every reading, on one page

Every page on tipsheet

The whole site by section. The same list is under each section's name at the top of every page.

Markets

Trading

Flows

Funds

Economy

World

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