Nifty Healthcare Historical Returns
The Nifty Healthcare index tracks pharmaceutical companies, hospitals and diagnostics.
Price history
Month-end values. Hover a year-end point for its value.
About Nifty Healthcare
The Nifty Healthcare index tracks pharmaceutical companies, hospitals and diagnostics.
What it means for investors. Broader than the Pharma index: it includes healthcare services, which depend more on domestic demand.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Healthcare | 2.7% | 17.8% | 12.3% | n/a | n/a | n/a | −21% | 23 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.
NSE Indices daily index closing values (NSE archives, ind_close_all file). Data 7 Jul 2016 to 23 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Mutual funds linked to Nifty Healthcare
MFIC groups that invest in this market, with medians for each group (medians across open-ended schemes, regular plans (etfs for etf categories), growth option, from amfi navs; NAVs as of 23 Oct 2026).
| Fund group | Link | Schemes | 1Y median | 3Y CAGR median | 5Y CAGR median | Ahead of benchmark TRI, 3Y |
|---|---|---|---|---|---|---|
| Equity ETF: Sector: Healthcare & pharma (ETFs) | Track this market | 8 | +3.0% | +18.4% | +12.9% | – |
| Index Fund: Sector: Healthcare & pharma | Track this market | 5 | +6.5% | +18.6% | n/a | – |
| Sectoral/Thematic: Healthcare & pharma | Main market of active funds | 19 | +6.8% | +18.3% | +13.5% | 2 of 11 |
Groups follow AMFI categories; theme groups are MFIC's own grouping from scheme names. "Ahead of benchmark TRI" compares each scheme's 3-year return with its own benchmark's total return index as published by AMFI; it is not shown for index funds and ETFs, which aim to match their index. Listed by how closely the group follows this market, not ranked. Open a group for every scheme in it.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 23 Oct | 5.1% |
| 2025 | −2.1% |
| 2024 | 40.6% |
| 2023 | 32.9% |
| 2022 | −10.8% |
| 2021 | 18.3% |
| 2020 | n/a |
| 2016 part year | 0.0% |
Over 5 complete calendar years since 2017, Nifty Healthcare rose in 3. Best: 2024 (+40.6%). Worst: 2022 (−10.8%).
Year-end to year-end, from NSE Indices daily index closing values (NSE archives, ind_close_all file).
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Jan 2025 | Feb 2025 | −15.9% | 2 | Feb 2026 | 12 | — |
| Aug 2023 | Nov 2023 | −20.7% | 3 | Nov 2023 | <1 | — |
| Sep 2021 | Jun 2022 | −20.8% | 9 | Jul 2023 | 13 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Jan 2021 | Mar 2021 | −11.2% | 2 | Apr 2021 | 1 | Union Budget 2021 |
Each fall of 10% or more from a previous high, measured on daily data. The 4 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 | 59 | 13.6% | −14.6% | 59.4% | −0.2% to 21.8% | 75% |
| 3 years | 35 | 18.8% | 11.9% | 25.6% | 17.0% to 21.5% | 100% |
| 5 years | 11 | 13.4% | 12.4% | 16.3% | 13.0% to 14.1% | 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 |
|---|---|---|
| Nifty 50 | 0.59 | 70 |
| Gold (domestic, ₹) | −0.14 | 70 |
| 10-year G-Sec (bond fund) | 0.42 | 70 |
| USD/INR | −0.36 | 70 |
| Nifty Bank | 0.32 | 70 |
| Nifty PSU Bank | 0.22 | 70 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty Healthcare and the Nifty 50, year by year
| Year | Nifty Healthcare | Nifty 50 |
|---|---|---|
| 2026 to 23 Oct | 5.1% | −12.9% |
| 2025 | −2.1% | 11.6% |
| 2024 | 40.6% | 9.6% |
| 2023 | 32.9% | 20.9% |
| 2022 | −10.8% | 5.3% |
| 2021 | 18.3% | 25.2% |
| 2020 | n/a | 15.5% |
| 2016 part year | 0.0% | 4.0% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty Healthcare returned over the long run?
- Calculated from NSE Indices daily index closing values (NSE archives, ind_close_all file), Nifty Healthcare returned 12.3% a year over the 5 years to 23 Oct 2026, and 17.8% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Healthcare?
- In the data available from Jul 2016, the largest fall from a previous peak was −20.8%, from Sep 2021 to Jun 2022, and it regained the peak in Jul 2023 (13 months after the bottom). There were 4 falls of 10% or more, 2 of them 20% or more.
- How often has Nifty Healthcare been positive over one year?
- Across 59 one-year periods starting at month-ends, 75% were positive; the range was −14.6% to 59.4%. Over five-year periods (11), 100% were positive, with annualised returns from 12.4% to 16.3%.
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