Markets
Nifty Media
Nifty Media is an NSE sector index of 10 stocks. Since 2005 it has compounded 3.4% a year with dividends reinvested; over the past year it rose 6.7%. Its deepest fall was 79%, from Jan 2008 to Mar 2009, and it took 8.0 years from that high to a new one.
Written for anyone who holds, tracks or is thinking of buying Nifty Media. Data to 14 Oct 2026.
- Trend
- Uptrend since Jun 2026
- Momentum
- 5th of 133 markets, by rank
- Below its high
- 52.0% total return
- P/E
- 43.3 100th percentile
- 1 year
- +6.7% total return
- 5 years
- −6.4% a year
- 10 years
- −5.1% a year
- Since 2005
- 3.4% a year
- Volatility
- 22.6% past year; usual 24%
NSE launched Nifty Media 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 2005, dividends added about 1.0 percentage points a year. Returns over more than a year are a year, compounded.
Nifty Media: growth of 100
Weekly, from Dec 2005, 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 | +6.8% | +6.8% | 0.0 pts | |
| 3 months | +8.8% | +8.7% | +0.1 pts | |
| 6 months | +20.8% | +20.7% | +0.1 pts | |
| This year | +14.0% | +13.6% | +0.3 pts | |
| 1 year | +6.7% | +6.1% | +0.6 pts | |
| 3 years, a year | −10.4% | −10.9% | +0.5 pts | |
| 5 years, a year | −6.4% | −6.9% | +0.5 pts | |
| 10 years, a year | −5.1% | −5.7% | +0.7 pts | |
| 15 years, a year | +3.0% | +2.0% | +1.0 pts | |
| 20 years, a year | +1.6% | +0.6% | +1.0 pts | |
| Since Dec 2005, a year | +3.4% | +2.4% | +1.0 pts |
Year by year
11 of the 20 full calendar years since 2006 ended higher. 20 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty Media: 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 | +14.0% | +13.6% | +0.3 pts | −16.0% | |
| 2025 | −20.0% | −20.5% | +0.6 pts | −26.2% | |
| 2024 | −23.4% | −23.9% | +0.4 pts | −28.3% | |
| 2023 | +20.3% | +19.9% | +0.4 pts | −18.1% | |
| 2022 | −9.5% | −10.2% | +0.7 pts | −27.2% | |
| 2021 | +35.7% | +34.6% | +1.1 pts | −20.5% | |
| 2020 | −7.6% | −8.6% | +1.0 pts | −47.8% | |
| 2019 | −28.9% | −29.7% | +0.8 pts | −33.1% | |
| 2018 | −25.4% | −25.9% | +0.5 pts | −35.2% | |
| 2017 | +33.6% | +32.7% | +0.9 pts | −12.1% | |
| 2016 | −0.3% | −0.9% | +0.6 pts | −20.3% | |
| 2015 | +11.2% | +10.3% | +0.9 pts | −16.9% | |
| 2014 | +39.1% | +33.0% | +6.1 pts | −12.3% | |
| 2013 | +2.5% | +1.5% | +1.0 pts | −19.2% | |
| 2012 | +60.2% | +58.7% | +1.5 pts | −17.0% | |
| 2011 | −32.3% | −33.3% | +1.0 pts | −33.2% | |
| 2010 | +5.3% | +4.2% | +1.0 pts | −18.6% | |
| 2009 | +83.6% | +81.6% | +2.0 pts | −34.5% | |
| 2008 | −68.3% | −68.6% | +0.3 pts | −76.2% | |
| 2007 | +62.1% | +61.2% | +1.0 pts | −18.3% | |
| 2006 | +75.3% | +74.2% | +1.1 pts | −38.6% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 79%, took 14 months to reach bottom and 6.8 years more to climb back. Today it is 52.0% below its high.
Nifty Media: 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 |
|---|---|---|---|---|---|---|
| −79.0% | 4 Jan 2008 | 12 Mar 2009 | 14 months | 6.8 years | 31 Dec 2015 | 8.0 years |
| −72.1% | 15 Jan 2018 | 3 Apr 2020 | 2.2 years | +72% off the low | not yet | 6.5 years since the low |
| −38.6% | 10 May 2006 | 14 Jun 2006 | 35 days | 5 months | 1 Nov 2006 | 6 months |
| −20.3% | 3 Oct 2016 | 26 Dec 2016 | 3 months | 3 months | 28 Mar 2017 | 6 months |
| −18.3% | 16 Jul 2007 | 23 Aug 2007 | 38 days | 3 months | 3 Dec 2007 | 5 months |
| −17.7% | 31 Dec 2015 | 29 Feb 2016 | 2 months | 4 months | 30 Jun 2016 | 6 months |
| −15.6% | 8 Feb 2007 | 7 Mar 2007 | 27 days | 49 days | 25 Apr 2007 | 3 months |
| −14.4% | 1 Dec 2006 | 12 Dec 2006 | 11 days | 34 days | 15 Jan 2007 | 45 days |
| −12.1% | 11 May 2017 | 11 Aug 2017 | 3 months | 3 months | 24 Nov 2017 | 6 months |
What holding it was like
From every day in its history, what holding Nifty Media for a fixed span would have returned a year. Over five years the middle outcome was 0.6% a year; the worst −13.8% and the best 26.6%; 47% of five-year spans 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 | −71.0% | −31.0% | +3.9% | +48.0% | +177.1% | 46% | 20.8 |
| 3 years | −31.4% | −14.6% | +1.2% | +19.8% | +31.8% | 47% | 6.9 |
| 5 years | −13.8% | −8.3% | +0.6% | +17.4% | +26.6% | 47% | 4.2 |
| 7 years | −11.0% | −6.1% | +0.8% | +13.4% | +23.0% | 44% | 3.0 |
| 10 years | −6.1% | −3.5% | +3.8% | +8.7% | +16.7% | 25% | 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 2016 (−2.9% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,38,295 | 1.08× | +9.1% | |
| 2024 | 34 | ₹3,40,000 | ₹3,35,707 | 0.99× | −0.9% | |
| 2023 | 46 | ₹4,60,000 | ₹4,38,389 | 0.95× | −2.5% | |
| 2022 | 58 | ₹5,80,000 | ₹5,33,541 | 0.92× | −3.5% | |
| 2021 | 70 | ₹7,00,000 | ₹6,47,541 | 0.93× | −2.7% | |
| 2020 | 82 | ₹8,20,000 | ₹7,94,254 | 0.97× | −0.9% | |
| 2019 | 94 | ₹9,40,000 | ₹8,93,325 | 0.95× | −1.3% | |
| 2018 | 106 | ₹10,60,000 | ₹9,63,703 | 0.91× | −2.2% | |
| 2017 | 118 | ₹11,80,000 | ₹10,33,245 | 0.88× | −2.7% | |
| 2016 | 130 | ₹13,00,000 | ₹11,14,073 | 0.86× | −2.9% | |
| 2015 | 142 | ₹14,20,000 | ₹12,07,068 | 0.85× | −2.8% | |
| 2014 | 154 | ₹15,40,000 | ₹13,19,642 | 0.86× | −2.4% | |
| 2013 | 166 | ₹16,60,000 | ₹14,52,188 | 0.87× | −2.0% | |
| 2012 | 178 | ₹17,80,000 | ₹16,26,336 | 0.91× | −1.2% | |
| 2011 | 190 | ₹19,00,000 | ₹17,95,902 | 0.95× | −0.7% | |
| 2010 | 202 | ₹20,20,000 | ₹19,32,026 | 0.96× | −0.5% | |
| 2009 | 214 | ₹21,40,000 | ₹21,59,815 | 1.01× | +0.1% | |
| 2008 | 226 | ₹22,60,000 | ₹23,24,576 | 1.03× | +0.3% | |
| 2007 | 238 | ₹23,80,000 | ₹24,38,368 | 1.02× | +0.2% | |
| 2006 | 250 | ₹25,00,000 | ₹26,24,559 | 1.05× | +0.5% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 22.6%, against a usual 24.3% for this index. 52% of months ended higher, and 397 days moved 3% or more either way.
Nifty Media: 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 |
|---|---|
| 25 Jan 2019 | −16.4% |
| 23 Jan 2024 | −12.9% |
| 24 Oct 2008 | −10.6% |
| 12 Mar 2020 | −10.3% |
| 23 Mar 2020 | −10.1% |
| Best days | Return |
|---|---|
| 14 Sept 2021 | +14.4% |
| 22 Sept 2021 | +13.6% |
| 18 May 2009 | +13.4% |
| 23 Jan 2008 | +11.5% |
| 15 Jun 2006 | +9.9% |
| Worst months | Return |
|---|---|
| Mar 2020 | −37.3% |
| Oct 2008 | −30.8% |
| Nov 2008 | −19.2% |
| Jun 2008 | −18.5% |
| Jan 2008 | −16.7% |
| Best months | Return |
|---|---|
| May 2009 | +42.2% |
| Sept 2021 | +34.1% |
| Dec 2008 | +25.7% |
| Aug 2020 | +22.4% |
| Nov 2006 | +19.6% |
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 43.3 is near the top of its range since NSE moved to consolidated earnings in March 2021. Price to book, 1.78, is near the top 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 43.3×, range 41.4× to 43.3×.
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 1.78×, range 1.60× to 1.78×.
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 | 43.31 | 100 | – | – | 41.77 | 41.37 | 43.31 |
| Price to book | 1.78 | 100 | – | – | 1.72 | 1.60 | 1.78 |
| Dividend yield, % | 0.90 | 100 | – | – | 0.49 | 0.47 | 0.90 |
What it holds
10 stocks as NSE lists them today. The ten largest make up 100.0% of the index. It is weighted by periodic capped free float and rebalanced twice a yearly.
NSE's factsheet, 30 Sept 2026. NSE publishes the weights of the ten largest members only.
| Largest holdings | Weight | |
|---|---|---|
| 1 | PVR INOX Ltd. | 20.11% |
| 2 | Nazara Technologies Ltd. | 19.86% |
| 3 | Zee Entertainment Enterprises Ltd. | 15.49% |
| 4 | Sun TV Network Ltd. | 13.56% |
| 5 | Saregama India Ltd | 8.30% |
| 6 | Prime Focus Ltd. | 6.94% |
| 7 | Tips Music Ltd. | 6.86% |
| 8 | Network18 Media & Investments Ltd. | 3.84% |
| 9 | MPS Ltd. | 3.23% |
| 10 | D.B.Corp Ltd. | 1.81% |
NSE's constituent list for Nifty Media, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| D.B.Corp Ltd. | Media Entertainment & Publication | DBCORP | |
| MPS Ltd. | Media Entertainment & Publication | MPSLTD | |
| Nazara Technologies Ltd. | Media Entertainment & Publication | NAZARA | |
| Network18 Media & Investments Ltd. | Media Entertainment & Publication | NETWORK18 | |
| PVR INOX Ltd. | Media Entertainment & Publication | PVRINOX | |
| Prime Focus Ltd. | Media Entertainment & Publication | PFOCUS | |
| Saregama India Ltd | Media Entertainment & Publication | SAREGAMA | |
| Sun TV Network Ltd. | Media Entertainment & Publication | SUNTV | |
| Tips Music Ltd. | Media Entertainment & Publication | TIPSMUSIC | |
| Zee Entertainment Enterprises Ltd. | Media Entertainment & Publication | ZEEL |
Against the Nifty 500
How Nifty Media has done against the broad market it is part of. Over 21 years it trailed the Nifty 500 by 9.2 percentage points a year, and was ahead in 4 of 20 calendar years.
Relative strength
Weekly: Nifty Media's total return divided by the Nifty 500's, 100 at the start of the range shown.
How to read it. Rising: Nifty Media 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 Media'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 Jan 2006 | −9.2 pts | 89 | 123 | 1.07 | 0.76 | 20.1% |
| Last 5 years, from Oct 2021 | −14.4 pts | 74 | 148 | 1.14 | 0.67 | 18.9% |
Models and ETFs
4 Tipsheet models can hold Nifty Media; none does today. No ETF listed on NSE tracks it. Its trend and momentum have a page of their own.
Model holdings on 14 Oct 2026. Rule-based models, not advice; each page has the rule and its record after costs and tax.
| Model | Weight in Nifty Media today |
|---|---|
| Sector rotation | 0% |
| Sector rotation (sectors counted from launch) | 0% |
| Sector rotation, top 3 (NSE history) | 0% |
| Sector rotation, top 3 (sectors counted from launch) | 0% |
Data and sources
Nifty Media is computed and published by NSE Indices. History here starts 30 Dec 2005; NSE launched the index on 19 Jul 2011, from a base date of December 30, 2005. 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 Media there to download its full series.
- Nifty Media 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.