Nifty Financial Services Ex-Bank PE Ratio
Valuation Percentile
Nifty Financial Services Ex-Bank's PB is more expensive than 64% of the last 3 years.
Not enough history for a 5Y percentile, showing 3Y instead.
The Nifty Financial Services Ex-Bank PE ratio is 22.43 as of 20 August 2026, about 1% below its 3-year median of 22.71, which places it in fairly valued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| 3 Years | 22.71 | -1.23% |
| 1 Year | 23.03 | -2.61% |
Historical PE Ratio
Performance and risk
1-year holding windows since 2005 returned a median of +18.24% (best +163.74%, worst -65.96%).
View full performance and risk
Returns as of July 2026, from the NSE factsheet for the Nifty Financial Services Ex-Bank. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Financial Services Ex-Bank
The Nifty Financial Services Ex-Bank contains 30 constituents.
Constituent list as of 16 August 2026, sourced from NSE Indices. Weights as of 31 July 2026, from the NSE factsheet.
How this index works
- Selection
- The index is designed to reflect the behaviour and performance of portfolio of stocks from the Financial Services sector other than Banks. The largest 30 stocks from eligible basic industries are chosen based on 6 month average free-float market capitalisation.
- Rebalanced
- Semi-annually. The review of sectoral indices is undertaken semi-annually based on data for six months ending January and July.
- Weight cap
- For all other sectoral indices, the weight of each stock is capped at 33% and the weight of top 3 stocks is capped at 62%
Summarised from NSE's official methodology document (PDF) for the Nifty Financial Services Ex-Bank; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Financial Services Ex-Bank PE ratio?
As of 20 August 2026, the Nifty Financial Services Ex-Bank PE ratio is 22.43. That is about 1% below its 3-year median of 22.71 and about 3% below its 1-year median of 23.03.
Is the Nifty Financial Services Ex-Bank undervalued right now?
On a historical basis it screens as fairly valued. Its current PE of 22.43 sits below every median window: 1-year (23.03) and 3-year (22.71).
What is a normal PE ratio for the Nifty Financial Services Ex-Bank?
Over the past three years its median PE has been 22.71, and over the past one year 23.03. Today's 22.43 is toward the lower end of that historical range.
How many stocks are in the Nifty Financial Services Ex-Bank?
The Nifty Financial Services Ex-Bank contains 30 stocks. By number of companies, its largest sectors are Financial Services (30 stocks).
What returns has the Nifty Financial Services Ex-Bank delivered?
As of July 2026, the Nifty Financial Services Ex-Bank total return (with dividends reinvested) is +13.41% over the past year and +15.08% annualized over the past five years. One-year figures are absolute; multi-year figures are annualized (CAGR). Data from the NSE factsheet.
How volatile is the Nifty Financial Services Ex-Bank?
Over the year to July 2026, the Nifty Financial Services Ex-Bank had an annualized volatility (standard deviation of daily returns) of 20.78%. Its beta versus the Nifty 50 is 1.36, meaning it has moved more than the broad market.
What is a typical one-year return for the Nifty Financial Services Ex-Bank?
Across every one-year holding window since 2005, the Nifty Financial Services Ex-Bank total return has a median of +18.24%, with the best window at +163.74% and the worst at -65.96%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
How often is the Nifty Financial Services Ex-Bank rebalanced?
The Nifty Financial Services Ex-Bank is rebalanced semi-annually. The review of sectoral indices is undertaken semi-annually based on data for six months ending January and July. Details are in the official NSE methodology document.
Last updated: 20 August 2026.