The questions, answered

The Nifty 50 costs 19.3 times its last year's earnings, higher than 61% of readings since 1999.

4 of every 100 trend rules we track vote up for the Nifty 500, which has returned −5.4% over three months and −3.7% over a year.

The Nifty 500 has returned −5.4% over three months, and 50% of liquid stocks are above their 200-day average: the weakness is broad, not confined to a few large stocks.

Micro caps have led the Nifty 500 by 25.1 percentage points over six months, and are still ahead over the last month.

The Nifty 500 has moved at an annualised 11.8% over the last month, lower than 76% of weeks since 1995, and is 8.6% below its peak.

Borrowed money to hold shares is 32 bps of market value, the highest reading since 2017; option premium is 0.45× the value of shares traded, higher than 61% of months since 2015.

Over the three months to Sept 2026, mutual funds bought a net ₹1.3 lakh cr of Indian shares on the exchanges and companies and others sold a net ₹90,058 cr.

After inflation the repo rate is 0.43%, lower than 60% of months since 2001, and the overnight call rate is 16 bps below it. At its last meeting, on 5 August 2026, the MPC left the repo rate at 5.25%.

The economy grew 7.8% in real terms in the latest quarter, higher than 76% of quarters since 2012, and consumer inflation is 4.8% against the RBI's 4% target.

At 96.31 to the dollar, the rupee has weakened 1.0% over three months and 8.5% over a year, while the dollar itself has risen 1.1% against all its trading partners.

The US 10-year real yield is 2.92%, the highest reading since 2003, and the dollar has risen 0.6% against its trading partners in six months.

Not holding: international ETFs, whose median premium to NAV is 15.70% against a bar of within ±0.50%.