Markets
Nifty India Consumption
Nifty India Consumption is an NSE theme index of 30 stocks. Since 2006 it has compounded 13.5% a year with dividends reinvested; over the past year it fell 10.1%. Its deepest fall was 53%, from Jan 2008 to Oct 2008, and it took 2.7 years from that high to a new one.
Written for anyone who holds, tracks or is thinking of buying Nifty India Consumption. Data to 14 Oct 2026.
- Trend
- Downtrend since Sep 2026
- Momentum
- 121st of 133 markets, by rank
- Below its high
- 14.8% total return
- P/E
- 36.6 33rd percentile
- 1 year
- −10.1% total return
- 5 years
- 8.7% a year
- 10 years
- 12.1% a year
- Since 2006
- 13.5% a year
- Volatility
- 15.0% past year; usual 15%
NSE launched Nifty India Consumption in Jul 2011. Figures before that use NSE's back-calculated history: today's rules applied to the past, chosen with that past in view. Charts mark the launch.
Returns
Total return counts dividends reinvested; price return does not. Since 2006, dividends added about 1.3 percentage points a year. Returns over more than a year are a year, compounded.
Nifty India Consumption: growth of 100
Weekly, from Jan 2006, log scale: equal slopes are equal rates of growth. Drag the range below the chart to start anywhere; both lines restart at 100.
How to read it. The gap between the two lines is what dividends were worth. It widens slowly and never closes.
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To 14 Oct 2026. Before any fund cost or tax.
| Period | Total return | Price return | Dividends added | More |
|---|---|---|---|---|
| 1 month | −4.8% | −4.8% | 0.0 pts | |
| 3 months | −5.8% | −6.0% | +0.3 pts | |
| 6 months | −0.9% | −1.5% | +0.6 pts | |
| This year | −10.6% | −11.2% | +0.6 pts | |
| 1 year | −10.1% | −10.8% | +0.7 pts | |
| 3 years, a year | +9.3% | +8.2% | +1.0 pts | |
| 5 years, a year | +8.7% | +7.6% | +1.1 pts | |
| 10 years, a year | +12.1% | +10.9% | +1.2 pts | |
| 15 years, a year | +14.0% | +12.7% | +1.3 pts | |
| 20 years, a year | +12.7% | +11.4% | +1.3 pts | |
| Since Jan 2006, a year | +13.5% | +12.2% | +1.3 pts |
Year by year
15 of the 19 full calendar years since 2007 ended higher. 13 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty India Consumption: each calendar year
The worst fall is the largest drop from a peak within the year, with the previous year-end as the first peak (the convention of J.P. Morgan's Guide to the Markets). Total return, %.
| Year | Total return | Price return | Dividends | Worst fall in the year | More |
|---|---|---|---|---|---|
| 2026 so far | −10.6% | −11.2% | +0.6 pts | −15.8% | |
| 2025 | +9.2% | +8.2% | +1.1 pts | −12.9% | |
| 2024 | +19.8% | +18.6% | +1.1 pts | −15.0% | |
| 2023 | +28.0% | +26.8% | +1.2 pts | −6.7% | |
| 2022 | +8.5% | +7.1% | +1.4 pts | −13.5% | |
| 2021 | +20.8% | +19.3% | +1.6 pts | −10.7% | |
| 2020 | +20.5% | +19.3% | +1.2 pts | −29.3% | |
| 2019 | +0.6% | −0.7% | +1.2 pts | −9.7% | |
| 2018 | −1.1% | −2.3% | +1.2 pts | −18.3% | |
| 2017 | +46.7% | +45.1% | +1.6 pts | −4.9% | |
| 2016 | −1.3% | −2.5% | +1.2 pts | −16.7% | |
| 2015 | +9.0% | +8.0% | +1.0 pts | −12.1% | |
| 2014 | +31.5% | +29.7% | +1.8 pts | −6.7% | |
| 2013 | +10.8% | +9.6% | +1.2 pts | −14.2% | |
| 2012 | +39.3% | +37.5% | +1.8 pts | −9.3% | |
| 2011 | −9.5% | −10.8% | +1.4 pts | −16.4% | |
| 2010 | +23.0% | +21.3% | +1.8 pts | −8.0% | |
| 2009 | +53.0% | +51.3% | +1.7 pts | −16.2% | |
| 2008 | −42.7% | −43.3% | +0.6 pts | −52.6% | |
| 2007 | +39.3% | +37.6% | +1.7 pts | −15.7% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 53%, took 10 months to reach bottom and 23 months more to climb back. Today it is 14.8% below its high.
Nifty India Consumption: how far below its previous high
Weekly, the week's lowest close against the highest close before it, total return, %.
How to read it. Zero is a new high. The depth of each dip is what a holder sat through; its width is how long getting back took.
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Total return, closing prices. A fall ends when the index closes at or above the high it fell from. Calendar time.
| Fall | From the high of | To the low of | Falling for | Recovering for | Back at the high | High to high |
|---|---|---|---|---|---|---|
| −52.6% | 7 Jan 2008 | 27 Oct 2008 | 10 months | 23 months | 15 Sept 2010 | 2.7 years |
| −31.2% | 28 Aug 2018 | 23 Mar 2020 | 19 months | 8 months | 12 Nov 2020 | 2.2 years |
| −29.4% | 10 May 2006 | 14 Jun 2006 | 35 days | 5 months | 13 Nov 2006 | 6 months |
| −21.9% | 26 Sept 2024 | 4 Mar 2025 | 5 months | +9% off the low | not yet | 19 months since the low |
| −17.7% | 9 Nov 2010 | 10 Feb 2011 | 3 months | 12 months | 21 Feb 2012 | 15 months |
| −16.7% | 14 Oct 2021 | 7 Mar 2022 | 5 months | 5 months | 29 Jul 2022 | 9 months |
| −16.7% | 8 Sept 2016 | 21 Nov 2016 | 2 months | 5 months | 25 Apr 2017 | 8 months |
| −15.7% | 5 Feb 2007 | 5 Mar 2007 | 28 days | 4 months | 13 Jul 2007 | 5 months |
| −15.1% | 5 Aug 2015 | 11 Feb 2016 | 6 months | 5 months | 30 Jun 2016 | 11 months |
| −14.2% | 23 Jul 2013 | 28 Aug 2013 | 36 days | 55 days | 22 Oct 2013 | 3 months |
What holding it was like
From every day in its history, what holding Nifty India Consumption for a fixed span would have returned a year. Over five years the middle outcome was 14.7% a year; the worst 2.7% and the best 25.6%; no five-year span lost money.
Total return a year, %, over every span of that length starting on any session. Spans overlap, so 'separate spans' is how many non-overlapping ones the history holds: the longer the span, the fewer truly independent readings behind each figure.
| Held for | Worst | 1 in 10 worse than | Middle | 1 in 10 better than | Best | Spans that lost | Separate spans |
|---|---|---|---|---|---|---|---|
| 1 year | −46.5% | −2.9% | +14.3% | +38.0% | +76.0% | 15% | 20.8 |
| 3 years | −7.8% | +6.1% | +14.6% | +21.9% | +30.1% | 2% | 6.9 |
| 5 years | +2.7% | +8.5% | +14.7% | +19.9% | +25.6% | 0% | 4.2 |
| 7 years | +8.6% | +11.6% | +14.0% | +17.1% | +23.4% | 0% | 3.0 |
| 10 years | +10.1% | +12.3% | +14.2% | +16.1% | +19.8% | 0% | 2.1 |
Rolling returns, a year
Weekly: the return a year over the 3 and 5 years to each date, total return, %.
How to read it. Each point is what someone who bought 3 or 5 years earlier had earned a year by then. The lows mark the worst times to have bought.
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₹10,000 on the first session of every month into the index itself, from January of each year to 14 Oct 2026. Before any fund cost or tax; an index fund would have returned a little less. Of SIPs that ran five years or more, the weakest started in 2021 (+9.0% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,10,439 | 0.96× | −4.8% | |
| 2024 | 34 | ₹3,40,000 | ₹3,33,787 | 0.98× | −1.3% | |
| 2023 | 46 | ₹4,60,000 | ₹5,04,235 | 1.10× | +4.9% | |
| 2022 | 58 | ₹5,80,000 | ₹6,92,182 | 1.19× | +7.4% | |
| 2021 | 70 | ₹7,00,000 | ₹9,09,226 | 1.30× | +9.0% | |
| 2020 | 82 | ₹8,20,000 | ₹12,00,217 | 1.46× | +11.1% | |
| 2019 | 94 | ₹9,40,000 | ₹14,93,889 | 1.59× | +11.7% | |
| 2018 | 106 | ₹10,60,000 | ₹17,82,431 | 1.68× | +11.5% | |
| 2017 | 118 | ₹11,80,000 | ₹21,24,531 | 1.80× | +11.6% | |
| 2016 | 130 | ₹13,00,000 | ₹25,28,397 | 1.94× | +11.8% | |
| 2015 | 142 | ₹14,20,000 | ₹29,55,616 | 2.08× | +11.8% | |
| 2014 | 154 | ₹15,40,000 | ₹34,81,145 | 2.26× | +12.0% | |
| 2013 | 166 | ₹16,60,000 | ₹41,14,570 | 2.48× | +12.3% | |
| 2012 | 178 | ₹17,80,000 | ₹49,05,814 | 2.76× | +12.7% | |
| 2011 | 190 | ₹19,00,000 | ₹57,68,264 | 3.04× | +12.9% | |
| 2010 | 202 | ₹20,20,000 | ₹67,07,174 | 3.32× | +13.0% | |
| 2009 | 214 | ₹21,40,000 | ₹79,69,029 | 3.72× | +13.3% | |
| 2008 | 226 | ₹22,60,000 | ₹91,61,791 | 4.05× | +13.3% | |
| 2007 | 238 | ₹23,80,000 | ₹1,03,27,701 | 4.34× | +13.2% | |
| 2006 | 250 | ₹25,00,000 | ₹1,17,48,491 | 4.70× | +13.1% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 15.0%, against a usual 14.9% for this index. 61% of months ended higher, and 125 days moved 3% or more either way.
Nifty India Consumption: volatility over the past year
Weekly: standard deviation of daily total returns over the past 252 sessions, annualised, %.
How to read it. Spikes come with sell-offs; calm stretches come with rising markets. High readings rarely last.
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| Worst days | Return |
|---|---|
| 23 Mar 2020 | −11.4% |
| 24 Oct 2008 | −9.8% |
| 21 Jan 2008 | −9.4% |
| 10 Oct 2008 | −7.5% |
| 18 May 2006 | −6.6% |
| Best days | Return |
|---|---|
| 18 May 2009 | +15.7% |
| 7 Apr 2020 | +8.7% |
| 31 Oct 2008 | +6.9% |
| 23 Jan 2008 | +6.7% |
| 20 Sept 2019 | +6.7% |
| Worst months | Return |
|---|---|
| Oct 2008 | −22.3% |
| Jun 2008 | −16.5% |
| Mar 2020 | −16.1% |
| May 2006 | −14.5% |
| Jan 2008 | −14.1% |
| Best months | Return |
|---|---|
| May 2009 | +17.9% |
| Jul 2022 | +12.4% |
| Jul 2009 | +12.3% |
| Dec 2007 | +12.0% |
| Apr 2009 | +11.8% |
Valuation
NSE's own price-to-earnings, price-to-book and dividend yield, at each month-end since Aug 2026. Today's P/E of 36.6 is in the middle of its range since NSE moved to consolidated earnings in March 2021. Price to book, 6.54, is in the middle of its range over the full history.
Price to earnings
Month-ends, as NSE publishes them.
How to read it. Higher is dearer. Before March 2021 NSE used standalone earnings, so readings on either side of the line are not strictly comparable.
Price to earnings. Line chart, Aug 2026 to Oct 2026. Price to earnings: latest 36.6×, range 36.6× to 38.4×.
Price to book
Month-ends, as NSE publishes them.
How to read it. Higher is dearer. Book value has no accounting break, so the whole history compares.
Price to book. Line chart, Aug 2026 to Oct 2026. Price to book: latest 6.54×, range 6.54× to 7.01×.
Today is 14 Oct 2026; the history is month-ends. A percentile is the share of month-ends at or below today's reading: 90 means dearer than nine months in ten (for dividend yield, the reverse).
| Today | Percentile, full history | Last 10 years | Since March 2021 | Median | Low | High | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 36.56 | 33 | – | – | 37.11 | 36.56 | 38.43 |
| Price to book | 6.54 | 33 | – | – | 6.64 | 6.54 | 7.01 |
| Dividend yield, % | 1.29 | 100 | – | – | 0.84 | 0.78 | 1.29 |
What it holds
30 stocks as NSE lists them today. The ten largest make up 59.9% of the index. It is weighted by periodic capped free float mcap and rebalanced twice a yearly.
Sector weights
NSE's factsheet, 30 Sept 2026. % of the index.
How to read it. Sectors as NSE classifies them. A sector index of one industry has no split to show.
Sector weights. Bar chart of 9 items. Weight, %: highest Automobile and Auto Components at 24.9%, lowest Realty at 1.3%.
NSE's factsheet, 30 Sept 2026. NSE publishes the weights of the ten largest members only.
| Largest holdings | Weight | |
|---|---|---|
| 1 | Bharti Airtel Ltd. | 10.14% |
| 2 | Mahindra & Mahindra Ltd. | 8.19% |
| 3 | ITC Ltd. | 7.87% |
| 4 | Eternal Ltd. | 7.21% |
| 5 | Titan Company Ltd. | 5.89% |
| 6 | Hindustan Unilever Ltd. | 5.18% |
| 7 | Maruti Suzuki India Ltd. | 4.84% |
| 8 | Bajaj Auto Ltd. | 3.69% |
| 9 | InterGlobe Aviation Ltd. | 3.51% |
| 10 | Asian Paints Ltd. | 3.37% |
NSE's constituent list for Nifty India Consumption, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| Apollo Hospitals Enterprise Ltd. | Healthcare | APOLLOHOSP | |
| Asian Paints Ltd. | Consumer Durables | ASIANPAINT | |
| Avenue Supermarts Ltd. | Consumer Services | DMART | |
| Bajaj Auto Ltd. | Automobile and Auto Components | BAJAJ-AUTO | |
| Bharti Airtel Ltd. | Telecommunication | BHARTIARTL | |
| Britannia Industries Ltd. | Fast Moving Consumer Goods | BRITANNIA | |
| DLF Ltd. | Realty | DLF | |
| Dixon Technologies (India) Ltd. | Consumer Durables | DIXON | |
| Eicher Motors Ltd. | Automobile and Auto Components | EICHERMOT | |
| Eternal Ltd. | Consumer Services | ETERNAL | |
| Fortis Healthcare Ltd. | Healthcare | FORTIS | |
| Godrej Consumer Products Ltd. | Fast Moving Consumer Goods | GODREJCP | |
| Hero MotoCorp Ltd. | Automobile and Auto Components | HEROMOTOCO | |
| Hindustan Unilever Ltd. | Fast Moving Consumer Goods | HINDUNILVR | |
| ITC Ltd. | Fast Moving Consumer Goods | ITC | |
| Indian Hotels Co. Ltd. | Consumer Services | INDHOTEL | |
| Info Edge (India) Ltd. | Consumer Services | NAUKRI | |
| InterGlobe Aviation Ltd. | Services | INDIGO | |
| Mahindra & Mahindra Ltd. | Automobile and Auto Components | M&M | |
| Maruti Suzuki India Ltd. | Automobile and Auto Components | MARUTI | |
| Max Healthcare Institute Ltd. | Healthcare | MAXHEALTH | |
| Nestle India Ltd. | Fast Moving Consumer Goods | NESTLEIND | |
| TVS Motor Company Ltd. | Automobile and Auto Components | TVSMOTOR | |
| Tata Consumer Products Ltd. | Fast Moving Consumer Goods | TATACONSUM | |
| Tata Power Co. Ltd. | Power | TATAPOWER | |
| Titan Company Ltd. | Consumer Durables | TITAN | |
| Torrent Pharmaceuticals Ltd. | Healthcare | TORNTPHARM | |
| Trent Ltd. | Consumer Services | TRENT | |
| United Spirits Ltd. | Fast Moving Consumer Goods | UNITDSPR | |
| Varun Beverages Ltd. | Fast Moving Consumer Goods | VBL |
Against the Nifty 500
How Nifty India Consumption has done against the broad market it is part of. Over 21 years it beat the Nifty 500 by 1.2 percentage points a year, and was ahead in 13 of 19 calendar years.
Relative strength
Weekly: Nifty India Consumption's total return divided by the Nifty 500's, 100 at the start of the range shown.
How to read it. Rising: Nifty India Consumption is outrunning the Nifty 500. Falling: it is lagging. The level means nothing; the direction is the reading.
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Three-year lead or lag
Weekly: Nifty India Consumption's return a year over the past three years minus the Nifty 500's, percentage points.
How to read it. Above zero, someone who bought three years earlier was ahead of the broad index; below, behind.
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Monthly total returns. Up capture: how much of the Nifty 500's gain in its rising months this index caught (100 is all of it); down capture: the same for falling months. Beta above 1 means bigger swings than the Nifty 500.
| Ahead by, a year | Up capture | Down capture | Beta | Correlation | Tracking error | |
|---|---|---|---|---|---|---|
| Full history, from Feb 2006 | +1.2 pts | 85 | 73 | 0.77 | 0.90 | 9.6% |
| Last 5 years, from Oct 2021 | +1.1 pts | 94 | 85 | 0.95 | 0.89 | 7.1% |
Models and ETFs
No Tipsheet model uses Nifty India Consumption. 4 ETFs track it. Its trend and momentum have a page of their own.
From the ETF desk. Tracking difference: what a holder buying and selling on the exchange got, minus the index's total return, over the past year. Tracking error: how much that gap wobbled week to week.
| ETF | NSE symbol | Expense ratio | Assets | Tracking difference, 1 year | Tracking error, 1 year | Daily traded value (median) | More |
|---|---|---|---|---|---|---|---|
| Nippon India ETF Nifty India Consumption | CONSUMBEES | 0.26% | ₹197 cr | −0.15 pts | 1.51% | ₹0.9 cr | |
| ICICI Prudential Nifty India Consumption ETF | CONSUMIETF | 0.17% | ₹54.4 cr | −0.18 pts | 2.27% | ₹0.1 cr | |
| Kotak Nifty India Consumption ETF | CONS | 0.08% | ₹34.9 cr | +0.03 pts | 2.79% | ₹0.0 cr | |
| Axis NIFTY India Consumption ETF | CONSUMAXIS | 0.36% | ₹13.6 cr | +0.10 pts | 2.57% | ₹0.0 cr |
Data and sources
Nifty India Consumption is computed and published by NSE Indices. History here starts 2 Jan 2006; NSE launched the index on 12 Jul 2011, from a base date of January 02, 2006. All returns are on NSE's total-return index unless marked as price return.
Historical index data. NSE publishes daily index values, total-return values and P/E, P/B and dividend yield for every index on niftyindices.com: historical data. Pick Nifty India Consumption there to download its full series.
- Nifty India Consumption on niftyindices.com: description and methodology
- NSE's monthly factsheet (PDF)
- Current constituents (CSV)
- The weekly series on this page (JSON): growth of 100, drawdown, volatility and rolling returns
Index values themselves are NSE's and are not republished here; the charts show growth of 100 and other figures computed from them.
The workings
The question
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.