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Market cues · 08:51 pm IST
Themes / Capital Markets & Wealth

Capital Markets & Wealth

Exchanges, depositories, brokers, asset managers, registrars, ratings, and wealth platforms.

Capital MarketsAuto-built
Theme price path

Capital Markets & Wealth vs Nifty 500

Weekly basket performance over the latest 52 observations. Green is ahead of Nifty 500; red is behind.

Through 09 Oct 2026
Coverage healthy
Theme aheadTheme behindNifty 500Base 100 at the first visible weekLatest: Outperforming +7.4%
82899510210817 Oct 2025 | Capital Markets & Wealth 100.0 | Nifty 500 100.0 | In line 0.0% | breadth 83% | coverage 100%24 Oct 2025 | Capital Markets & Wealth 100.8 | Nifty 500 100.4 | Outperforming +0.4% | breadth 61% | coverage 100%31 Oct 2025 | Capital Markets & Wealth 98.2 | Nifty 500 100.5 | Underperforming -2.3% | breadth 22% | coverage 100%07 Nov 2025 | Capital Markets & Wealth 98.3 | Nifty 500 99.7 | Underperforming -1.4% | breadth 56% | coverage 100%14 Nov 2025 | Capital Markets & Wealth 98.1 | Nifty 500 101.0 | Underperforming -2.9% | breadth 44% | coverage 100%21 Nov 2025 | Capital Markets & Wealth 96.7 | Nifty 500 100.8 | Underperforming -4.1% | breadth 39% | coverage 100%28 Nov 2025 | Capital Markets & Wealth 97.6 | Nifty 500 101.4 | Underperforming -3.7% | breadth 67% | coverage 100%05 Dec 2025 | Capital Markets & Wealth 95.4 | Nifty 500 101.0 | Underperforming -5.5% | breadth 28% | coverage 100%12 Dec 2025 | Capital Markets & Wealth 95.8 | Nifty 500 100.5 | Underperforming -4.7% | breadth 56% | coverage 100%19 Dec 2025 | Capital Markets & Wealth 95.5 | Nifty 500 100.3 | Underperforming -4.8% | breadth 39% | coverage 100%26 Dec 2025 | Capital Markets & Wealth 95.5 | Nifty 500 100.8 | Underperforming -5.3% | breadth 50% | coverage 100%02 Jan 2026 | Capital Markets & Wealth 96.5 | Nifty 500 102.1 | Underperforming -5.5% | breadth 72% | coverage 100%09 Jan 2026 | Capital Markets & Wealth 94.1 | Nifty 500 99.4 | Underperforming -5.3% | breadth 22% | coverage 100%16 Jan 2026 | Capital Markets & Wealth 96.3 | Nifty 500 99.5 | Underperforming -3.2% | breadth 78% | coverage 100%23 Jan 2026 | Capital Markets & Wealth 89.9 | Nifty 500 96.2 | Underperforming -6.5% | breadth 0% | coverage 100%01 Feb 2026 | Capital Markets & Wealth 91.7 | Nifty 500 95.8 | Underperforming -4.3% | breadth 72% | coverage 100%06 Feb 2026 | Capital Markets & Wealth 92.9 | Nifty 500 99.3 | Underperforming -6.4% | breadth 67% | coverage 100%13 Feb 2026 | Capital Markets & Wealth 93.8 | Nifty 500 98.8 | Underperforming -5.1% | breadth 67% | coverage 100%20 Feb 2026 | Capital Markets & Wealth 93.3 | Nifty 500 99.1 | Underperforming -5.9% | breadth 33% | coverage 100%27 Feb 2026 | Capital Markets & Wealth 90.1 | Nifty 500 98.2 | Underperforming -8.2% | breadth 18% | coverage 94%06 Mar 2026 | Capital Markets & Wealth 88.2 | Nifty 500 95.3 | Underperforming -7.5% | breadth 28% | coverage 100%13 Mar 2026 | Capital Markets & Wealth 85.7 | Nifty 500 90.6 | Underperforming -5.4% | breadth 11% | coverage 100%20 Mar 2026 | Capital Markets & Wealth 85.7 | Nifty 500 90.4 | Underperforming -5.2% | breadth 56% | coverage 100%27 Mar 2026 | Capital Markets & Wealth 84.5 | Nifty 500 89.1 | Underperforming -5.2% | breadth 22% | coverage 100%02 Apr 2026 | Capital Markets & Wealth 85.0 | Nifty 500 88.7 | Underperforming -4.2% | breadth 67% | coverage 100%10 Apr 2026 | Capital Markets & Wealth 94.4 | Nifty 500 94.7 | Underperforming -0.3% | breadth 100% | coverage 100%17 Apr 2026 | Capital Markets & Wealth 100.5 | Nifty 500 96.9 | Outperforming +3.7% | breadth 100% | coverage 100%24 Apr 2026 | Capital Markets & Wealth 98.6 | Nifty 500 95.6 | Outperforming +3.1% | breadth 22% | coverage 100%30 Apr 2026 | Capital Markets & Wealth 98.3 | Nifty 500 96.1 | Outperforming +2.3% | breadth 50% | coverage 100%08 May 2026 | Capital Markets & Wealth 103.8 | Nifty 500 98.0 | Outperforming +5.9% | breadth 89% | coverage 100%15 May 2026 | Capital Markets & Wealth 100.2 | Nifty 500 95.5 | Outperforming +4.9% | breadth 17% | coverage 100%22 May 2026 | Capital Markets & Wealth 100.0 | Nifty 500 96.0 | Outperforming +4.2% | breadth 44% | coverage 100%29 May 2026 | Capital Markets & Wealth 100.9 | Nifty 500 96.0 | Outperforming +5.1% | breadth 50% | coverage 100%05 Jun 2026 | Capital Markets & Wealth 98.1 | Nifty 500 95.2 | Outperforming +3.0% | breadth 22% | coverage 100%12 Jun 2026 | Capital Markets & Wealth 99.2 | Nifty 500 95.8 | Outperforming +3.5% | breadth 67% | coverage 100%19 Jun 2026 | Capital Markets & Wealth 105.2 | Nifty 500 98.2 | Outperforming +7.1% | breadth 89% | coverage 100%26 Jun 2026 | Capital Markets & Wealth 103.0 | Nifty 500 97.9 | Outperforming +5.2% | breadth 22% | coverage 100%03 Jul 2026 | Capital Markets & Wealth 105.3 | Nifty 500 98.7 | Outperforming +6.7% | breadth 72% | coverage 100%10 Jul 2026 | Capital Markets & Wealth 105.8 | Nifty 500 99.0 | Outperforming +6.9% | breadth 44% | coverage 100%17 Jul 2026 | Capital Markets & Wealth 103.3 | Nifty 500 98.9 | Outperforming +4.4% | breadth 11% | coverage 100%24 Jul 2026 | Capital Markets & Wealth 100.3 | Nifty 500 97.2 | Outperforming +3.2% | breadth 22% | coverage 100%31 Jul 2026 | Capital Markets & Wealth 101.8 | Nifty 500 99.4 | Outperforming +2.4% | breadth 61% | coverage 100%07 Aug 2026 | Capital Markets & Wealth 102.1 | Nifty 500 100.5 | Outperforming +1.6% | breadth 50% | coverage 100%14 Aug 2026 | Capital Markets & Wealth 102.3 | Nifty 500 100.0 | Outperforming +2.3% | breadth 50% | coverage 100%21 Aug 2026 | Capital Markets & Wealth 104.5 | Nifty 500 99.6 | Outperforming +4.9% | breadth 78% | coverage 100%28 Aug 2026 | Capital Markets & Wealth 106.1 | Nifty 500 99.7 | Outperforming +6.4% | breadth 72% | coverage 100%04 Sept 2026 | Capital Markets & Wealth 105.4 | Nifty 500 98.5 | Outperforming +7.0% | breadth 44% | coverage 100%11 Sept 2026 | Capital Markets & Wealth 103.9 | Nifty 500 96.9 | Outperforming +7.2% | breadth 28% | coverage 100%18 Sept 2026 | Capital Markets & Wealth 103.2 | Nifty 500 96.8 | Outperforming +6.6% | breadth 39% | coverage 100%25 Sept 2026 | Capital Markets & Wealth 101.3 | Nifty 500 95.8 | Outperforming +5.7% | breadth 28% | coverage 100%01 Oct 2026 | Capital Markets & Wealth 98.3 | Nifty 500 92.6 | Outperforming +6.2% | breadth 11% | coverage 100%09 Oct 2026 | Capital Markets & Wealth 99.6 | Nifty 500 92.7 | Outperforming +7.4% | breadth 61% | coverage 100%Outperforming +7.4%17 Oct 202510 Apr 202609 Oct 2026
Theme return
-0.4%
Nifty 500
-7.3%
Vs Nifty 500
+7.4%
Latest coverage
18/18
How this plot is calculated

The theme line is green when its cumulative rebased performance is above Nifty 500 and red when it is below. The chart callout shows the latest relative performance as the theme level divided by the benchmark level, minus one.

The basket uses the theme's current reviewed companies. For each available week, we calculate every valid constituent's close-to-close return and give each company the same weight. If a weekly rollup is missing or lags the daily series, the final available daily close in that week is used.

For baskets with at least 10 valid stocks, the highest and lowest 5% of weekly returns are trimmed to reduce split, corporate-action, and single-stock distortions. Weekly basket returns are then compounded and rebased to 100 beside the Nifty 500.

Breadth is the share of valid constituents that rose that week. Coverage is the number with usable aligned prices divided by current membership. Weekly moves above 80% are excluded as likely data or corporate-action outliers.

Limitation: this is a current-membership historical reconstruction, not a point-in-time investable index. It can contain survivorship bias and excludes costs, liquidity impact, dividends, and rebalancing turnover.

Model note: Current-member weekly equal-weight returns (5% tails trimmed for baskets of 10+), compounded and rebased to 100 against Nifty 500; lagging weekly rollups are patched with the final available daily close, and rotation uses 13-week excess return with four-week acceleration.

Theme scorecard

Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.

Build portfolio from this theme
Theme
44
Stretched
Quality
49
Valuation
36
Momentum
51
Positive MoS
33%
P/E 37.5 · ROCE 33%
Curated research view

Capital Markets & Wealth

A focused investor view: high-conviction names first, then small/micro exposure only as controlled satellite risk. Live U-Score and MoS still come from the current database.

68/100
Theme score
Moderate-High
Investability
50.2
Live avg U
-42.5%
Live avg MoS

High-conviction shortlist

#1NAM-INDIA
Nippon Life India Asset Management Limited
63
U
LargeMoS +1.6%Piotroski 8/9
#2MCX
Multi Commodity Exchange of India Limited
62
U
MidMoS -111.5%Piotroski 8/9
#3BSE
BSE Limited
60
U
MidMoS -82.1%Piotroski 8/9
#4JMFINANCIL
JM Financial Limited
58
U
SmallMoS +58.2%Piotroski 6/9
#5ABSLAMC
Aditya Birla Sun Life AMC Limited
58
U
LargeMoS +7.5%Piotroski 8/9
#6ANANDRATHI
Anand Rathi Wealth Limited
58
U
SmallMoS -180.5%Piotroski 8/9
#7ICRA
ICRA Limited
55
U
SmallMoS +15.7%Piotroski 8/9
#8HDFCAMC
HDFC Asset Management Company Limited
55
U
LargeMoS -5.6%Piotroski 8/9
#9CAMS
Computer Age Management Services Limited
54
U
SmallMoS -29.8%Piotroski 8/9
#10KFINTECH
Kfin Technologies Limited
54
U
SmallMoS -63.9%Piotroski 8/9
#11CRISIL
CRISIL Limited
53
U
LargeMoS -41.0%Piotroski 8/9
#12PRUDENT
Prudent Corporate Advisory Services Limited
53
U
MicroMoS -111.9%Piotroski 8/9

Curated company map

Names from the curated theme note. Solid chips are present in the live eligible cohort; dashed chips need membership review, ticker verification, or may be indirect/unlisted exposure.

10/10 live eligible
BSECDSLMCXCAMSKFINTECHHDFCAMCNAM-INDIAANGELONE360ONENUVAMA

Investment thesis

Financialisation of savings supports exchanges, depositories, brokers, registrars, asset managers, ratings firms, and wealth platforms with scalable fee pools.

1-2 year outlook: Constructive for market infrastructure and diversified fee-income franchises; pure brokers remain more cyclical.
Recommended allocation: 5-8%.

Key triggers

  • Demat and SIP growth
  • Higher assets under management
  • Market turnover
  • New product and distribution expansion

Major risks

  • Market-cycle dependence
  • Fee compression
  • Regulatory changes
  • Operating leverage during weak volumes
Small, micro, and SME names should be opt-in exposure. Suggested filters: U-Score above 65, positive MoS, Piotroski 7+, debt/equity below 0.8, promoter pledge below 10%, and enough traded value to exit without slippage.

Thesis

A direct capital-markets cohort covering businesses whose revenue is tied to market participation, assets under management, transaction activity, custody, registry, ratings, or wealth distribution. General lenders and holding companies are excluded.

  • ▸Financialisation of household savings
  • ▸Market infrastructure and recurring fee income
  • ▸Transaction and asset-price cyclicality

Top picks · ranked by U-Score within this cohort

#1NAM-INDIALarge
Nippon Life India Asset Management Limited
Financial Services
UNDERVALUED

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +1.6%Piotroski: 8/9ROCE: 44%P/E: 41.3D/E: 0.02
63
U-Score
₹1045.00
Open →
#2MCXMid
Multi Commodity Exchange of India Limited
Financial Services
UNDERVALUED

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -111.5%Piotroski: 8/9ROCE: 71%P/E: 52.6D/E: 0.00
62
U-Score
₹3318.20
Open →
#3BSEMid
BSE Limited
Financial Services
UNDERVALUED

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -82.1%Piotroski: 8/9ROCE: 60%P/E: 45.8D/E: 0.00
60
U-Score
₹3287.20
Open →

Full cohort

JMFINANCILSmall
JM Financial Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +58.2%Piotroski: 6/9ROCE: 12%P/E: 11.2D/E: 1.09
58
U-Score
₹117.82
Open →
ABSLAMCLarge
Aditya Birla Sun Life AMC Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +7.5%Piotroski: 8/9ROCE: 32%P/E: 29.5D/E: 0.02
58
U-Score
₹1004.05
Open →
ANANDRATHISmall
Anand Rathi Wealth Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -180.5%Piotroski: 8/9ROCE: 59%P/E: 76.6D/E: 0.08
58
U-Score
₹2038.70
Open →
ICRASmall
ICRA Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +15.7%Piotroski: 8/9ROCE: 23%P/E: 21.1D/E: 0.02
55
U-Score
₹4424.80
Open →
HDFCAMCLarge
HDFC Asset Management Company Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -5.6%Piotroski: 8/9ROCE: 43%P/E: 34.1D/E: 0.00
55
U-Score
₹2262.50
Open →
CAMSSmall
Computer Age Management Services Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -29.8%Piotroski: 8/9ROCE: 47%P/E: 34.4D/E: 0.05
54
U-Score
₹672.50
Open →
KFINTECHSmall
Kfin Technologies Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -63.9%Piotroski: 8/9ROCE: 29%P/E: 42.8D/E: 0.03
54
U-Score
₹842.35
Open →
CRISILLarge
CRISIL Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -41.0%Piotroski: 8/9ROCE: 33%P/E: 37.3D/E: 0.10
53
U-Score
₹4423.80
Open →
PRUDENTMicro
Prudent Corporate Advisory Services Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -111.9%Piotroski: 8/9ROCE: 38%P/E: 52.5D/E: 0.04
53
U-Score
₹3254.70
Open →
CDSLSmall
Central Depository Services (India) Limited
Financial Services
FAIR VALUE

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -115.3%Piotroski: 8/9ROCE: 32%P/E: 55.4D/E: 0.00
50
U-Score
₹1260.00
Open →
IIFLCAPSMicro
IIFL Capital Services Limited
Financial Services
WATCHLIST

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +27.6%Piotroski: 6/9ROCE: 21%P/E: 19.1D/E: 0.59
43
U-Score
₹343.75
Open →
NUVAMASmall
Nuvama Wealth Management Limited
Financial Services
WATCHLIST

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -14.1%Piotroski: 4/9ROCE: 18%P/E: 31.0D/E: 2.80
40
U-Score
₹1764.40
Open →
ANGELONESmall
Angel One Limited
Financial Services
WATCHLIST

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: +0.8%Piotroski: 5/9ROCE: 15%P/E: 25.3D/E: 1.30
33
U-Score
₹292.00
Open →
360ONEMid
360 ONE WAM LIMITED
Financial Services
OVERVALUED

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -29.8%Piotroski: 4/9ROCE: 12%P/E: 33.9D/E: 1.62
27
U-Score
₹1048.00
Open →
MOTILALOFSMid
Motilal Oswal Financial Services Limited
Financial Services
OVERVALUED

Direct exchange, depository, broking, registry, ratings, asset-management, or wealth-management revenue exposure.

MoS: -90.1%Piotroski: 4/9ROCE: 13%P/E: 30.8D/E: 1.65
27
U-Score
₹1026.00
Open →
The rationale above is editorial — the ranking uses our U-Score engine so the names you see first are the strongest fundamentals fit, not the most popular or most-mentioned. Re-rank yourself if you weigh valuation or quality differently. All information is for study purposes only — consult your financial advisor before investing.