Nifty MidSmallcap 400 PE Ratio

Valuation Percentile

Performance and risk

1-year holding windows since 2016 returned a median of +11.34% (best +122.97%, worst -36.38%).

Today's PE of 29.96 sits in band 2 of 5 of this index's history (PE 27.3 to 32.1). From this band, 3-year forward returns had a median of +24.95% a year and were positive in 100% of windows (233 windows since 2016).

View full performance and risk

Returns as of September 2026, from the NSE factsheet for the Nifty MidSmallcap 400. 1-year returns are absolute; 5-year returns are annualized.

Stocks in the Nifty MidSmallcap 400

The Nifty MidSmallcap 400 contains 401 constituents. Its largest sectors by weight are Financial Services (24.2%) and Capital Goods (12.8%).

Constituent list as of 4 October 2026, sourced from NSE Indices. Weights as of 30 September 2026, from the NSE factsheet.

What is the current Nifty MidSmallcap 400 PE ratio?

As of 1 October 2026, the Nifty MidSmallcap 400 PE ratio is 29.96. That is about 1% below its 5-year median of 30.17 and about 4% below its 1-year median of 31.20.

Is the Nifty MidSmallcap 400 undervalued right now?

On a historical basis it screens as fairly valued. Its current PE of 29.96 sits below every median window: 1-year (31.20), 3-year (32.09), 5-year (30.17), 7-year (31.46), 10-year (33.31) and full-history (33.75).

What is a normal PE ratio for the Nifty MidSmallcap 400?

Over the past five years its median PE has been 30.17, and over the past three years 32.09. Today's 29.96 is toward the lower end of that historical range.

How many stocks are in the Nifty MidSmallcap 400?

The Nifty MidSmallcap 400 contains 401 stocks. By number of companies, its largest sectors are Financial Services (75 stocks), Capital Goods (59 stocks) and Healthcare (36 stocks).

What returns has the Nifty MidSmallcap 400 delivered?

As of September 2026, the Nifty MidSmallcap 400 total return (with dividends reinvested) is +5.41% over the past year and +14.69% 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 MidSmallcap 400?

Over the year to September 2026, the Nifty MidSmallcap 400 had an annualized volatility (standard deviation of daily returns) of 16.27%. Its beta versus the Nifty 50 is 1.05, meaning it has moved roughly in line with the broad market.

What is a typical one-year return for the Nifty MidSmallcap 400?

Across every one-year holding window since 2016, the Nifty MidSmallcap 400 total return has a median of +11.34%, with the best window at +122.97% and the worst at -36.38%. Based on NSE Total Returns Index data; a past distribution, not a prediction.

What have 3-year returns been from PE levels like today's?

The Nifty MidSmallcap 400 currently trades at a PE of 29.96, in band 2 of 5 of its own PE history. Across 233 overlapping 3-year windows since 2016 that began in this band, the median forward return was +24.95% a year, positive in 100% of windows. A past distribution, not a prediction.

How fast have Nifty MidSmallcap 400 earnings grown?

Nifty MidSmallcap 400 earnings, measured as the index level divided by its P/E, grew +14.88% a year over the last 5 years, while the index itself moved +13.63% a year and its P/E fell from 31.64 to 29.96. Past growth, not a forecast.

How often is the Nifty MidSmallcap 400 rebalanced?

The Nifty MidSmallcap 400 is rebalanced quarterly. Details are in the official NSE methodology document.