Nifty trading at 18% discount to 10-year average: Is it time to invest in large-cap mutual funds?
Motilal Oswal moved lower in a quarterly results development.
· Business Today Mkts
According to Motilal Oswal Private Wealth's latest Alpha Strategist report, the Nifty 50's 12-month forward price-to-earnings (P/E) ratio has declined to 17.2 times, compared with its 10-year average of 20.9 times.
The analysis
Motilal Oswal reported movement of 18%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +8.1% on the day at ₹1,095.00, and has returned +24.4% over three months. It is trading close to its 52-week high, so expectations were already elevated going in. The capital markets sector has moved +1.4% over the same period, so Motilal Oswal is running 23.0 points ahead of its peers.
For Motilal Oswal, the question is how much of this is already reflected in the price and how much re-rates the capital markets peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: Motilal Oswal (MOTILALOFS), in Capital Markets.
- Over three months: Motilal Oswal +24.4% against Capital Markets +1.4% (23.0 points ahead).
- Trading well above normal today: Motilal Oswal at 2.8 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Motilal OswalMOTILALOFS · Capital Markets | ₹1,095.00 | +8.1% | +8.3% | +24.4% | 0.0% | 2.8× | — |
Capital Markets
1M +4.8% · 3M +1.4%
Motilal Oswal
Prices as of 5 Nov 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
MCX Q2 profit more than doubles to ₹455 crore on higher trading volumes
Emcure Pharma shares jump 7% after Q2 profit rises 29% YoY to Rs 325 crore
Airtel Q2 preview: Analysts see double-digit revenue growth; ARPU in focus
Diwali dhamaka stocks: Eternal, ICICI Bank, among 10 with upside of up to 34%
Chalet Hotels Q2 net profit rises 40% to ₹216 crore, revenue falls 32%