Are markets overheated?

Index Name	Closing Index Value	P/E	P/B	Div Yield
Nifty 50	8541.4	23.43	3.47	1.21
Nifty Next 50	21579.4	27.7	2.98	1.55
Nifty 100	8700.1	24.01	3.38	1.27
Nifty 200	4499.95	25.04	3.2	1.25
Nifty 500	7194.4	26.72	3.04	1.22
Nifty Midcap 50	3547.65	49.97	1.79	1.43
Nifty Free Float Midcap 100	14282.2	33.89	2.37	1.47
Nifty Alpha 50	8878.33	28.39	3.97	0.61
Nifty Quality 30	2177	28	7.17	1.46
Nifty Full Midcap 100	4347.53	41.08	2.13	1.11
Nifty Midcap 150	4688.28	36.28	2.52	1.05
Nifty Smallcap 50	3168.04	39.2	1.16	1.25
Nifty Full Smallcap 100	3062.72	32.76	1.35	1.1
Nifty Smallcap 250	4673.6	1530.54	1.56	0.99
Nifty MidSmallcap 400	4677	53.26	2.1	1.03

Source: http://www.gauravblog.com/are-markets-overheated-in-the-small-mid-cap-space