{
 "fy_labels": [
  "FY17",
  "FY18",
  "FY19",
  "FY20",
  "FY21",
  "FY22",
  "FY23",
  "FY24",
  "FY25",
  "FY26"
 ],
 "fy": {
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   "n_eligible": 316,
   "n_universe": 500,
   "index_return": 23.9,
   "median_stock": 35.0,
   "mean_stock": 45.1,
   "top_sector": "Metals & Mining",
   "top_sector_median": 87.1,
   "top_sector_n": 15,
   "top20_cutoff": 122.2,
   "bottom20_cutoff": -13.3,
   "top5": [
    {
     "symbol": "OLECTRA",
     "ret": 352.3
    },
    {
     "symbol": "JSL",
     "ret": 325.1
    },
    {
     "symbol": "ESCORTS",
     "ret": 286.9
    },
    {
     "symbol": "VEDL",
     "ret": 273.0
    },
    {
     "symbol": "PCBL",
     "ret": 245.5
    }
   ],
   "gold": -0.3,
   "silver": 15.2,
   "crude_inr": 27.7,
   "usdinr": -2.1,
   "brent": 42.0,
   "y10_start": 7.44,
   "y10_end": 7.12,
   "y10_chg_bp": -32.0,
   "repo_start": 6.75,
   "repo_end": 6.25,
   "repo_chg_bp": -50.0,
   "rate_trend": "falling",
   "n_repo_actions": 2,
   "regime": "RISK-ON",
   "eq_minus_gold": 24.2,
   "pct_beat_index": 61.4
  },
  "FY18": {
   "n_eligible": 328,
   "n_universe": 500,
   "index_return": 11.5,
   "median_stock": 10.1,
   "mean_stock": 25.2,
   "top_sector": "Information Technology",
   "top_sector_median": 41.6,
   "top_sector_n": 17,
   "top20_cutoff": 89.0,
   "bottom20_cutoff": -31.7,
   "top5": [
    {
     "symbol": "HEG",
     "ret": 1329.9
    },
    {
     "symbol": "GRAPHITE",
     "ret": 547.7
    },
    {
     "symbol": "GPIL",
     "ret": 265.3
    },
    {
     "symbol": "HSCL",
     "ret": 234.1
    },
    {
     "symbol": "PCBL",
     "ret": 228.9
    }
   ],
   "gold": 6.8,
   "silver": -9.5,
   "crude_inr": 28.9,
   "usdinr": 0.4,
   "brent": 32.2,
   "y10_start": 7.16,
   "y10_end": 7.61,
   "y10_chg_bp": 44.0,
   "repo_start": 6.25,
   "repo_end": 6.0,
   "repo_chg_bp": -25.0,
   "rate_trend": "flat",
   "n_repo_actions": 1,
   "regime": "RISK-ON",
   "eq_minus_gold": 4.6,
   "pct_beat_index": 45.7
  },
  "FY19": {
   "n_eligible": 351,
   "n_universe": 500,
   "index_return": 8.4,
   "median_stock": -4.6,
   "mean_stock": -2.3,
   "top_sector": "Consumer Services",
   "top_sector_median": 21.9,
   "top_sector_n": 8,
   "top20_cutoff": 46.1,
   "bottom20_cutoff": -42.0,
   "top5": [
    {
     "symbol": "USHAMART",
     "ret": 121.3
    },
    {
     "symbol": "ADANIPOWER",
     "ret": 103.2
    },
    {
     "symbol": "CGCL",
     "ret": 97.8
    },
    {
     "symbol": "BATAINDIA",
     "ret": 92.5
    },
    {
     "symbol": "BALRAMCHIN",
     "ret": 81.2
    }
   ],
   "gold": 4.4,
   "silver": -1.5,
   "crude_inr": -1.2,
   "usdinr": 6.2,
   "brent": -1.6,
   "y10_start": 7.55,
   "y10_end": 7.41,
   "y10_chg_bp": -13.0,
   "repo_start": 6.0,
   "repo_end": 6.25,
   "repo_chg_bp": 25.0,
   "rate_trend": "flat",
   "n_repo_actions": 3,
   "regime": "RISK-ON",
   "eq_minus_gold": 4.1,
   "pct_beat_index": 30.2
  },
  "FY20": {
   "n_eligible": 362,
   "n_universe": 500,
   "index_return": -27.6,
   "median_stock": -36.9,
   "mean_stock": -31.9,
   "top_sector": "Chemicals",
   "top_sector_median": -4.5,
   "top_sector_n": 18,
   "top20_cutoff": 32.0,
   "bottom20_cutoff": -74.7,
   "top5": [
    {
     "symbol": "ADANIGREEN",
     "ret": 312.5
    },
    {
     "symbol": "ABBOTINDIA",
     "ret": 111.5
    },
    {
     "symbol": "NAVINFLUOR",
     "ret": 72.6
    },
    {
     "symbol": "BERGEPAINT",
     "ret": 53.8
    },
    {
     "symbol": "DIXON",
     "ret": 52.3
    }
   ],
   "gold": 36.3,
   "silver": 4.7,
   "crude_inr": -59.9,
   "usdinr": 9.0,
   "brent": -78.1,
   "y10_start": 7.42,
   "y10_end": 6.7,
   "y10_chg_bp": -72.0,
   "repo_start": 6.25,
   "repo_end": 4.4,
   "repo_chg_bp": -185.0,
   "rate_trend": "falling",
   "n_repo_actions": 5,
   "regime": "RISK-OFF",
   "eq_minus_gold": -63.9,
   "pct_beat_index": 39.2
  },
  "FY21": {
   "n_eligible": 378,
   "n_universe": 500,
   "index_return": 76.0,
   "median_stock": 95.1,
   "mean_stock": 139.9,
   "top_sector": "Metals & Mining",
   "top_sector_median": 232.3,
   "top_sector_n": 15,
   "top20_cutoff": 394.3,
   "bottom20_cutoff": 15.9,
   "top5": [
    {
     "symbol": "PGEL",
     "ret": 1407.4
    },
    {
     "symbol": "INTELLECT",
     "ret": 1260.3
    },
    {
     "symbol": "CGPOWER",
     "ret": 1224.8
    },
    {
     "symbol": "ATGL",
     "ret": 1013.2
    },
    {
     "symbol": "SAREGAMA",
     "ret": 716.9
    }
   ],
   "gold": 3.2,
   "silver": 61.5,
   "crude_inr": 161.0,
   "usdinr": -3.0,
   "brent": 327.7,
   "y10_start": 6.77,
   "y10_end": 6.35,
   "y10_chg_bp": -41.0,
   "repo_start": 4.4,
   "repo_end": 4.0,
   "repo_chg_bp": -40.0,
   "rate_trend": "falling",
   "n_repo_actions": 1,
   "regime": "RISK-ON",
   "eq_minus_gold": 72.8,
   "pct_beat_index": 61.6
  },
  "FY22": {
   "n_eligible": 391,
   "n_universe": 500,
   "index_return": 21.0,
   "median_stock": 23.1,
   "mean_stock": 42.8,
   "top_sector": "Metals & Mining",
   "top_sector_median": 74.2,
   "top_sector_n": 15,
   "top20_cutoff": 171.7,
   "bottom20_cutoff": -25.9,
   "top5": [
    {
     "symbol": "TTML",
     "ret": 1082.3
    },
    {
     "symbol": "ANGELONE",
     "ret": 428.2
    },
    {
     "symbol": "BSE",
     "ret": 395.3
    },
    {
     "symbol": "FLUOROCHEM",
     "ret": 376.8
    },
    {
     "symbol": "USHAMART",
     "ret": 307.0
    }
   ],
   "gold": 15.6,
   "silver": 5.8,
   "crude_inr": 77.1,
   "usdinr": 3.7,
   "brent": 68.9,
   "y10_start": 6.28,
   "y10_end": 6.82,
   "y10_chg_bp": 54.0,
   "repo_start": 4.0,
   "repo_end": 4.0,
   "repo_chg_bp": 0.0,
   "rate_trend": "flat",
   "n_repo_actions": 0,
   "regime": "RISK-ON",
   "eq_minus_gold": 5.4,
   "pct_beat_index": 52.2
  },
  "FY23": {
   "n_eligible": 415,
   "n_universe": 500,
   "index_return": -2.3,
   "median_stock": 1.6,
   "mean_stock": 9.6,
   "top_sector": "Capital Goods",
   "top_sector_median": 41.2,
   "top_sector_n": 52,
   "top20_cutoff": 84.4,
   "bottom20_cutoff": -39.6,
   "top5": [
    {
     "symbol": "APARINDS",
     "ret": 285.8
    },
    {
     "symbol": "KIRLOSENG",
     "ret": 200.2
    },
    {
     "symbol": "BLS",
     "ret": 181.8
    },
    {
     "symbol": "MAZDOCK",
     "ret": 176.6
    },
    {
     "symbol": "ELECON",
     "ret": 165.8
    }
   ],
   "gold": 15.2,
   "silver": 7.0,
   "crude_inr": -20.2,
   "usdinr": 8.3,
   "brent": -26.2,
   "y10_start": 7.11,
   "y10_end": 7.36,
   "y10_chg_bp": 25.0,
   "repo_start": 4.0,
   "repo_end": 6.5,
   "repo_chg_bp": 250.0,
   "rate_trend": "rising",
   "n_repo_actions": 6,
   "regime": "RISK-OFF",
   "eq_minus_gold": -17.4,
   "pct_beat_index": 54.7
  },
  "FY24": {
   "n_eligible": 429,
   "n_universe": 500,
   "index_return": 39.1,
   "median_stock": 64.0,
   "mean_stock": 87.1,
   "top_sector": "Realty",
   "top_sector_median": 147.8,
   "top_sector_n": 10,
   "top20_cutoff": 266.5,
   "bottom20_cutoff": -7.8,
   "top5": [
    {
     "symbol": "GVT&D",
     "ret": 611.3
    },
    {
     "symbol": "TARIL",
     "ret": 595.3
    },
    {
     "symbol": "BSE",
     "ret": 484.3
    },
    {
     "symbol": "INOXWIND",
     "ret": 458.4
    },
    {
     "symbol": "IRFC",
     "ret": 435.2
    }
   ],
   "gold": 13.9,
   "silver": 3.9,
   "crude_inr": 11.5,
   "usdinr": 1.4,
   "brent": 8.8,
   "y10_start": 7.18,
   "y10_end": 7.07,
   "y10_chg_bp": -11.0,
   "repo_start": 6.5,
   "repo_end": 6.5,
   "repo_chg_bp": 0.0,
   "rate_trend": "flat",
   "n_repo_actions": 0,
   "regime": "RISK-ON",
   "eq_minus_gold": 25.2,
   "pct_beat_index": 66.7
  },
  "FY25": {
   "n_eligible": 447,
   "n_universe": 500,
   "index_return": 5.4,
   "median_stock": 5.5,
   "mean_stock": 13.9,
   "top_sector": "Healthcare",
   "top_sector_median": 24.1,
   "top_sector_n": 43,
   "top20_cutoff": 90.9,
   "bottom20_cutoff": -35.0,
   "top5": [
    {
     "symbol": "PGEL",
     "ret": 451.5
    },
    {
     "symbol": "MAZDOCK",
     "ret": 183.7
    },
    {
     "symbol": "TARIL",
     "ret": 171.1
    },
    {
     "symbol": "CARTRADE",
     "ret": 157.8
    },
    {
     "symbol": "SARDAEN",
     "ret": 153.3
    }
   ],
   "gold": 33.2,
   "silver": 33.3,
   "crude_inr": -11.4,
   "usdinr": 2.5,
   "brent": -10.4,
   "y10_start": 7.15,
   "y10_end": 6.68,
   "y10_chg_bp": -47.0,
   "repo_start": 6.5,
   "repo_end": 6.25,
   "repo_chg_bp": -25.0,
   "rate_trend": "flat",
   "n_repo_actions": 1,
   "regime": "RISK-OFF",
   "eq_minus_gold": -27.8,
   "pct_beat_index": 50.1
  },
  "FY26": {
   "n_eligible": 473,
   "n_universe": 500,
   "index_return": -3.8,
   "median_stock": -5.9,
   "mean_stock": -0.4,
   "top_sector": "Metals & Mining",
   "top_sector_median": 22.0,
   "top_sector_n": 17,
   "top20_cutoff": 61.8,
   "bottom20_cutoff": -43.8,
   "top5": [
    {
     "symbol": "PFOCUS",
     "ret": 262.8
    },
    {
     "symbol": "GVT&D",
     "ret": 133.5
    },
    {
     "symbol": "MCX",
     "ret": 125.0
    },
    {
     "symbol": "NATIONALUM",
     "ret": 120.0
    },
    {
     "symbol": "FORCEMOT",
     "ret": 114.5
    }
   ],
   "gold": 63.0,
   "silver": 140.7,
   "crude_inr": 56.2,
   "usdinr": 9.8,
   "brent": 64.0,
   "y10_start": 6.46,
   "y10_end": 6.84,
   "y10_chg_bp": 38.0,
   "repo_start": 6.25,
   "repo_end": 5.25,
   "repo_chg_bp": -100.0,
   "rate_trend": "falling",
   "n_repo_actions": 3,
   "regime": "RISK-OFF",
   "eq_minus_gold": -66.8,
   "pct_beat_index": 47.4
  }
 },
 "breadth": {
  "FY17": 61.4,
  "FY18": 45.7,
  "FY19": 30.2,
  "FY20": 39.2,
  "FY21": 61.6,
  "FY22": 52.2,
  "FY23": 54.7,
  "FY24": 66.7,
  "FY25": 50.1,
  "FY26": 47.4
 },
 "meta": {
  "universe_name": "Nifty 500 (2026 constituents)",
  "fy_first": "FY2016-17",
  "fy_last": "FY2025-26",
  "n_years": 10,
  "n_obs": 3890,
  "n_stocks": 474,
  "n_eligible_first": 316,
  "n_eligible_last": 473,
  "data_start": "2014-01-01",
  "data_end": "2026-09-11",
  "price_source": "Zerodha Kite Connect v3 historical daily OHLCV",
  "macro_source": "MCX continuous futures (Kite); FRED INDIRLTLT01STM / DEXINUS / DCOILBRENTEU",
  "index_cumulative_10y_pct": 218.2,
  "index_cagr_pct": 12.27
 }
}