Markets
Nifty Realty
Nifty Realty is an NSE sector index of 10 stocks. Since 2006 it has compounded −0.4% a year with dividends reinvested; over the past year it fell 7.0%. Its deepest fall was 93%, from Jan 2008 to Feb 2016, and it has not yet regained that high.
Written for anyone who holds, tracks or is thinking of buying Nifty Realty. Data to 14 Oct 2026.
- Trend
- Downtrend since Oct 2026
- Momentum
- 82nd of 133 markets, by rank
- Below its high
- 51.3% total return
- P/E
- 34.8 4th percentile since 2021
- 1 year
- −7.0% total return
- 5 years
- 9.2% a year
- 10 years
- 15.4% a year
- Since 2006
- −0.4% a year
- Volatility
- 26.9% past year; usual 33%
NSE launched Nifty Realty in Aug 2007. 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 0.5 percentage points a year. Returns over more than a year are a year, compounded.
Nifty Realty: growth of 100
Weekly, from Dec 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 | −3.0% | −3.0% | 0.0 pts | |
| 3 months | −10.1% | −10.4% | +0.4 pts | |
| 6 months | +9.2% | +8.7% | +0.5 pts | |
| This year | −5.9% | −6.3% | +0.4 pts | |
| 1 year | −7.0% | −7.4% | +0.4 pts | |
| 3 years, a year | +10.7% | +10.3% | +0.4 pts | |
| 5 years, a year | +9.2% | +8.8% | +0.4 pts | |
| 10 years, a year | +15.4% | +14.9% | +0.5 pts | |
| 15 years, a year | +8.9% | +8.4% | +0.6 pts | |
| Since Dec 2006, a year | −0.4% | −1.0% | +0.5 pts |
Year by year
10 of the 19 full calendar years since 2007 ended higher. 19 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty Realty: 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 | −5.9% | −6.3% | +0.4 pts | −29.0% | |
| 2025 | −16.3% | −16.6% | +0.3 pts | −26.2% | |
| 2024 | +34.8% | +34.4% | +0.4 pts | −18.3% | |
| 2023 | +82.0% | +81.4% | +0.7 pts | −14.8% | |
| 2022 | −10.5% | −10.8% | +0.3 pts | −28.2% | |
| 2021 | +54.7% | +54.3% | +0.4 pts | −18.6% | |
| 2020 | +5.7% | +5.1% | +0.5 pts | −50.9% | |
| 2019 | +29.3% | +28.5% | +0.8 pts | −16.7% | |
| 2018 | −32.7% | −33.0% | +0.3 pts | −46.0% | |
| 2017 | +110.7% | +109.8% | +0.9 pts | −10.6% | |
| 2016 | −3.5% | −4.2% | +0.7 pts | −28.3% | |
| 2015 | −14.4% | −15.0% | +0.7 pts | −38.2% | |
| 2014 | +10.8% | +10.0% | +0.8 pts | −36.4% | |
| 2013 | −33.6% | −34.4% | +0.8 pts | −52.2% | |
| 2012 | +53.6% | +52.7% | +0.9 pts | −32.2% | |
| 2011 | −51.3% | −51.5% | +0.3 pts | −51.8% | |
| 2010 | −25.3% | −25.5% | +0.3 pts | −34.6% | |
| 2009 | +71.4% | +71.0% | +0.4 pts | −50.4% | |
| 2008 | −82.5% | −82.8% | +0.2 pts | −89.7% | |
| 2007 | +73.7% | +73.2% | +0.5 pts | −35.8% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 93%, took 8.1 years to reach bottom and has not been recovered. Today it is 51.3% below its high.
Nifty Realty: 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 |
|---|---|---|---|---|---|---|
| −92.8% | 14 Jan 2008 | 25 Feb 2016 | 8.1 years | +573% off the low | not yet | 10.6 years since the low |
| −35.7% | 4 Jan 2007 | 5 Mar 2007 | 2 months | 4 months | 12 Jul 2007 | 6 months |
| −19.3% | 24 Jul 2007 | 23 Aug 2007 | 30 days | 27 days | 19 Sept 2007 | 57 days |
| −12.7% | 11 Oct 2007 | 22 Oct 2007 | 11 days | 7 days | 29 Oct 2007 | 18 days |
| −11.5% | 19 Nov 2007 | 22 Nov 2007 | 3 days | 11 days | 3 Dec 2007 | 14 days |
What holding it was like
From every day in its history, what holding Nifty Realty for a fixed span would have returned a year. Over five years the middle outcome was 5.7% a year; the worst −30.7% and the best 42.3%; 37% 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 | −88.0% | −36.0% | −2.4% | +79.5% | +176.3% | 52% | 19.8 |
| 3 years | −43.6% | −24.3% | +6.5% | +33.6% | +50.1% | 42% | 6.6 |
| 5 years | −30.7% | −21.4% | +5.7% | +29.5% | +42.3% | 37% | 4.0 |
| 7 years | −27.1% | −17.9% | +3.9% | +20.7% | +26.2% | 36% | 2.8 |
| 10 years | −16.0% | −11.4% | +5.6% | +18.2% | +21.1% | 38% | 2.0 |
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 2007 (+9.3% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,11,166 | 0.96× | −4.4% | |
| 2024 | 34 | ₹3,40,000 | ₹3,12,531 | 0.92× | −5.9% | |
| 2023 | 46 | ₹4,60,000 | ₹5,15,590 | 1.12× | +6.0% | |
| 2022 | 58 | ₹5,80,000 | ₹7,40,973 | 1.28× | +10.3% | |
| 2021 | 70 | ₹7,00,000 | ₹10,09,146 | 1.44× | +12.6% | |
| 2020 | 82 | ₹8,20,000 | ₹14,65,150 | 1.79× | +16.9% | |
| 2019 | 94 | ₹9,40,000 | ₹18,57,127 | 1.98× | +17.1% | |
| 2018 | 106 | ₹10,60,000 | ₹22,25,311 | 2.10× | +16.4% | |
| 2017 | 118 | ₹11,80,000 | ₹26,46,335 | 2.24× | +15.8% | |
| 2016 | 130 | ₹13,00,000 | ₹32,23,853 | 2.48× | +16.0% | |
| 2015 | 142 | ₹14,20,000 | ₹37,62,770 | 2.65× | +15.6% | |
| 2014 | 154 | ₹15,40,000 | ₹42,87,667 | 2.78× | +15.0% | |
| 2013 | 166 | ₹16,60,000 | ₹48,11,393 | 2.90× | +14.3% | |
| 2012 | 178 | ₹17,80,000 | ₹52,83,515 | 2.97× | +13.6% | |
| 2011 | 190 | ₹19,00,000 | ₹56,79,386 | 2.99× | +12.8% | |
| 2010 | 202 | ₹20,20,000 | ₹59,21,797 | 2.93× | +11.8% | |
| 2009 | 214 | ₹21,40,000 | ₹62,43,748 | 2.92× | +11.0% | |
| 2008 | 226 | ₹22,60,000 | ₹64,30,996 | 2.85× | +10.2% | |
| 2007 | 238 | ₹23,80,000 | ₹65,42,931 | 2.75× | +9.3% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 26.9%, against a usual 33.5% for this index. 49% of months ended higher, and 760 days moved 3% or more either way.
Nifty Realty: 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 |
|---|---|
| 24 Oct 2008 | −23.7% |
| 7 Jan 2009 | −17.8% |
| 21 Jan 2008 | −13.6% |
| 10 Oct 2008 | −12.0% |
| 13 Mar 2008 | −11.8% |
| Best days | Return |
|---|---|
| 18 May 2009 | +23.7% |
| 19 May 2009 | +13.1% |
| 4 Dec 2008 | +13.1% |
| 10 Dec 2008 | +12.8% |
| 2 Jul 2008 | +11.8% |
| Worst months | Return |
|---|---|
| Oct 2008 | −42.8% |
| Mar 2020 | −37.4% |
| Jun 2008 | −36.6% |
| Sept 2008 | −31.0% |
| Jan 2009 | −27.9% |
| Best months | Return |
|---|---|
| May 2009 | +80.6% |
| Dec 2008 | +49.0% |
| Apr 2009 | +41.3% |
| May 2014 | +35.7% |
| Sept 2021 | +32.9% |
Valuation
NSE's own price-to-earnings, price-to-book and dividend yield, at each month-end since Aug 2007. Today's P/E of 34.8 is near the bottom of its range since NSE moved to consolidated earnings in March 2021. Price to book, 3.59, is in the middle of its range over the full history.
Price to earnings
Month-ends, as NSE publishes them. 7 month-ends above 115 are left out (highest 755): earnings near zero make the ratio meaningless.
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 2007 to Oct 2026. Price to earnings: latest 34.8×, range 4.4× to 107.2×.
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 2007 to Oct 2026. Price to book: latest 3.59×, range 0.60× to 42.81×.
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 | 34.84 | 42 | 12 | 4 | 38.40 | 4.37 | 755.03 |
| Price to book | 3.59 | 74 | 62 | – | 2.18 | 0.60 | 42.81 |
| Dividend yield, % | 0.51 | 56 | 81 | – | 0.47 | 0.03 | 5.34 |
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 | DLF Ltd. | 20.38% |
| 2 | Phoenix Mills Ltd. | 17.05% |
| 3 | Lodha Developers Ltd. | 15.90% |
| 4 | Prestige Estates Projects Ltd. | 11.79% |
| 5 | Godrej Properties Ltd. | 10.38% |
| 6 | Oberoi Realty Ltd. | 9.80% |
| 7 | Brigade Enterprises Ltd. | 5.03% |
| 8 | Anant Raj Ltd. | 4.31% |
| 9 | Aditya Birla Real Estate Ltd. | 2.81% |
| 10 | Sobha Ltd. | 2.56% |
NSE's constituent list for Nifty Realty, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| Aditya Birla Real Estate Ltd. | Realty | ABREL | |
| Anant Raj Ltd. | Realty | ANANTRAJ | |
| Brigade Enterprises Ltd. | Realty | BRIGADE | |
| DLF Ltd. | Realty | DLF | |
| Godrej Properties Ltd. | Realty | GODREJPROP | |
| Lodha Developers Ltd. | Realty | LODHA | |
| Oberoi Realty Ltd. | Realty | OBEROIRLTY | |
| Phoenix Mills Ltd. | Realty | PHOENIXLTD | |
| Prestige Estates Projects Ltd. | Realty | PRESTIGE | |
| Sobha Ltd. | Realty | SOBHA |
Against the Nifty 500
How Nifty Realty has done against the broad market it is part of. Over 20 years it trailed the Nifty 500 by 11.7 percentage points a year, and was ahead in 7 of 19 calendar years.
Relative strength
Weekly: Nifty Realty's total return divided by the Nifty 500's, 100 at the start of the range shown.
How to read it. Rising: Nifty Realty 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 Realty'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 2007 | −11.7 pts | 151 | 218 | 1.86 | 0.87 | 29.8% |
| Last 5 years, from Oct 2021 | +1.9 pts | 155 | 170 | 1.63 | 0.88 | 15.8% |
Models and ETFs
4 Tipsheet models can hold Nifty Realty; none does today. 2 ETFs track 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 Realty 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% |
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 |
|---|---|---|---|---|---|---|---|
| Motilal Oswal Nifty Realty ETF | MOREALTY | 0.35% | ₹263 cr | −0.33 pts | 2.30% | ₹4.6 cr | |
| Groww Nifty Realty ETF | GROWWRLTY | 0.40% | ₹16.1 cr | −0.83 pts | 3.61% | ₹0.2 cr |
Data and sources
Nifty Realty is computed and published by NSE Indices. History here starts 29 Dec 2006; NSE launched the index on 30 Aug 2007, from a base date of December 29, 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 Realty there to download its full series.
- Nifty Realty 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.