Quant – Navigating Crests & Troughs – Sept’26 Sectoral PE trend
Published on 05 Oct 2026
Overall, Sep’26 valuations witnessed moderation across most sectors. Capital Goods, Cements, Automobiles, Auto Parts & Equipment, Consumer Durables, Defence, Oil & Gas, Pharma, Power Generation & Distribution and Textiles continue to trade above their LTAs. Notably, Cements, Defence, Oil & Gas and Power Generation & Distribution remained above their respective SD (+1) levels, while Pharma traded at its SD (+1) level. Consumer Durables remained only marginally above its LTA, while Metals & Mining moderated to trade broadly in line with its historical average.
In contrast, Agro Chemicals, Building Materials, Chemicals, FMCG, Hospitals, Hotels, IT, Real Estate and Retail remained below their LTAs. Building Materials, FMCG and IT ended the month below their respective SD (-1) levels. Chemicals, which started the month in line with its LTA, moderated to trade below its LTA by month end.
