Nifty 50 Historical Returns
The Nifty 50 is the index of 50 large Indian companies on the NSE. Its history here comes from the NAV of an index fund that tracks it, so the returns include dividends and are after the fund's costs.
Price history
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
About Nifty 50
The Nifty 50 is NSE's index of 50 large, actively traded Indian companies across sectors, weighted by free-float market value.
What it means for investors. It is the most common yardstick for Indian large-cap equity. Many large-cap and index funds are compared with it, so its history shows what the broad large-cap market has delivered, and how deep its falls have been along the way.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty 50 | −9.0% | 5.4% | 5.9% | 11.0% | 11.4% | 10.1% | −60% | 1 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC. Proxy: UTI Nifty 50 Index Fund (Regular, growth) (total return after fund costs (proxy)). Data 3 Apr 2006 to 1 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 1 Oct | −13.6% |
| 2025 | 11.6% |
| 2024 | 9.6% |
| 2023 | 20.9% |
| 2022 | 5.3% |
| 2021 | 25.2% |
| 2020 | 15.5% |
| 2019 | 13.2% |
| 2018 | 4.3% |
| 2017 | 29.7% |
| 2016 | 4.0% |
| 2015 | −3.3% |
Over 19 complete calendar years since 2007, Nifty 50 rose in 16. Best: 2009 (+73.8%). Worst: 2008 (−52.0%).
Year-end to year-end, from AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC.
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Jan 2026 | Mar 2026 | −15.1% | 3 | not yet | — | — |
| Sep 2024 | Mar 2025 | −15.5% | 5 | Oct 2025 | 8 | — |
| Oct 2021 | Jun 2022 | −16.6% | 8 | Nov 2022 | 5 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Jan 2020 | Mar 2020 | −38.4% | 2 | Nov 2020 | 8 | COVID-19 declared a pandemic |
| Jun 2019 | Sep 2019 | −10.9% | 4 | Nov 2019 | 2 | — |
| Aug 2018 | Oct 2018 | −14.4% | 2 | Apr 2019 | 5 | NBFC sell-off |
| Sep 2016 | Dec 2016 | −11.5% | 4 | Mar 2017 | 2 | Demonetisation |
| Mar 2015 | Feb 2016 | −21.8% | 12 | Sep 2016 | 6 | Yuan devaluation |
| Jan 2008 | Oct 2008 | −59.7% | 10 | Dec 2013 | 61 | January 2008 sell-off; Lehman Brothers bankruptcy; RBI cuts repo rate (GFC) |
| Jul 2007 | Aug 2007 | −11.7% | 1 | Sep 2007 | 1 | — |
| Feb 2007 | Mar 2007 | −15.1% | 1 | May 2007 | 2 | — |
| May 2006 | Jun 2006 | −29.8% | 1 | Oct 2006 | 5 | — |
Each fall of 10% or more from a previous high, measured on daily data. The 12 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 235 | 11.2% | −52.7% | 80.8% | 0.9% to 22.5% | 78% |
| 3 years | 211 | 11.6% | −1.7% | 27.4% | 7.3% to 15.3% | 97% |
| 5 years | 187 | 12.2% | −1.4% | 23.3% | 8.2% to 14.4% | 98% |
| 10 years | 127 | 11.9% | 5.6% | 15.0% | 9.1% to 13.4% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Gold (domestic, ₹) | −0.11 | 233 |
| Silver (domestic, ₹) | −0.02 | 56 |
| 10-year G-Sec (bond fund) | 0.08 | 245 |
| USD/INR | −0.59 | 245 |
| S&P 500 (in ₹) | 0.36 | 77 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Longer history: Indian equity since 1990
show table
| Year | Return |
|---|---|
| 2026 to 1 Aug | −8.4% |
| 2025 | 6.1% |
| 2024 | 13.8% |
| 2023 | 13.9% |
| 2022 | 7.2% |
| 2021 | 24.8% |
| 2020 | 12.6% |
| 2019 | 14.5% |
| 2018 | 7.3% |
| 2017 | 26.7% |
| 2016 | 2.8% |
| 2015 | −7.2% |
| 2014 | 31.9% |
| 2013 | 8.3% |
| 2012 | 21.3% |
| 2011 | −19.9% |
| 2010 | 16.6% |
| 2009 | 79.6% |
| 2008 | −52.0% |
| 2007 | 45.5% |
| 2006 | 48.7% |
| 2005 | 43.3% |
| 2004 | 17.9% |
| 2003 | 63.6% |
| 2002 | 0.0% |
| 2001 | −18.8% |
| 2000 | −15.0% |
| 1999 | 63.0% |
| 1998 | −16.2% |
| 1997 | 20.4% |
| 1996 | −4.6% |
| 1995 | −22.5% |
| 1994 | 19.6% |
| 1993 | 30.2% |
| 1992 | 35.4% |
| 1991 | 61.1% |
| 1990 | 55.5% |
World Bank Global Economic Monitor, equity price index for India (monthly, price only, no dividends). It is not the Nifty 50 itself but gives the market's path before index funds existed. Every bear market since 1990 →
Nifty 50 and Sensex, year by year
show table
| Year | Nifty 50 | Sensex |
|---|---|---|
| 2026 to 1 Oct | −13.6% | −15.1% |
| 2025 | 11.6% | 9.9% |
| 2024 | 9.6% | 9.0% |
| 2023 | 20.9% | 19.8% |
| 2022 | 5.3% | 5.3% |
| 2021 | 25.2% | 22.6% |
| 2020 | 15.5% | 16.2% |
| 2019 | 13.2% | 15.1% |
| 2018 | 4.3% | 6.7% |
| 2017 | 29.7% | 28.9% |
| 2016 | 4.0% | 3.3% |
| 2015 | −3.3% | −3.9% |
| 2014 | 31.8% | 30.6% |
| 2013 | 6.9% | 10.1% |
| 2012 | 28.3% | 26.5% |
| 2011 | −24.8% | −25.2% |
| 2010 | 17.7% | 17.6% |
| 2009 | 73.8% | 75.1% |
| 2008 | −52.0% | −53.9% |
| 2007 | 53.6% | 41.7% |
Index-fund NAV proxies (AMFI), after fund costs.
Questions
- What has Nifty 50 returned over the long run?
- Calculated from UTI Nifty 50 Index Fund (Regular, growth), Nifty 50 returned 11.0% a year over the 10 years to 1 Oct 2026, and 5.4% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty 50?
- In the data available from Apr 2006, the largest fall from a previous peak was −59.7%, from Jan 2008 to Oct 2008, and it regained the peak in Dec 2013 (61 months after the bottom). There were 12 falls of 10% or more, 4 of them 20% or more.
- How often has Nifty 50 been positive over one year?
- Across 235 one-year periods starting at month-ends, 78% were positive; the range was −52.7% to 80.8%. Over five-year periods (187), 98% were positive, with annualised returns from −1.4% to 23.3%.
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