New Delhi, March 6 -- The Indian stock market benchmark index, Nifty 50, has remained largely flat over the past twelve months, even as earnings estimates have seen notable downward revisions, according to a report by JM Financial.

The brokerage report highlights that both FY25E and FY26E earnings per share (EPS) estimates for Nifty 50 companies have been cut by 5.8% over the past year. The downward revision trend persisted in February 2025, with EPS estimates for FY25E-27E seeing cuts in the range of 0.5% - 0.9%, following a steeper 1.4% - 2.8% cut in January 2025.

A sectoral analysis shows that 60% of Nifty 50 companies experienced EPS downgrades in February 2025, an improvement from 72% in January 2025. Key sectors witnessing EPS cut...