The stock market analysis is very sensitive analysis due to wide diversity in influencing factors. However, analysts from academic and industrial point of view developed fundamental, technical and sentimental approach for predicting market movements in future. Present study used fundamental factors such as P/E ratio, P/B ratio and dividend yield as independent variables and NIFTY 50 index as dependent variable. The study adopted Multiple Regression Analysis technique for the period of one year data from 1st April 2021 to 31st March 2022. The statistical tools of the study found the significant positive relationship between P/B ratio and index, significant negative relationship between P/E ratio and index and insignificant negative relationship between dividend yield and NIFTY 50 index. Finally, the study suggests the investors for consideration of P/E and P/B Ration for predicting NIFTY 50 index movement in the future and ignores the dividend yield.