InvestorQ : What are the stocks that actually triggered the sharp rally in the last week other than Reliance Industries?
Archita Jajjoo made post

What are the stocks that actually triggered the sharp rally in the last week other than Reliance Industries?

Answer
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Rashi Mehra answered.
3 months ago


It was a week that ended with a bang with a sharp rally on the last two days of trading. The rally in the stock markets on Thursday and Friday was a lot stronger than anticipated and resulted in the top 10 stocks on the Nifty adding nearly Rs.176,500 crore to the overall market capitalization of the stock exchange.

No prizes for guessing but the big gainer was Reliance which benefited by getting closer to its zero net-debt status. It was a combination of its successful Jio Platforms placement plus the roaring success of its rights issue. During the week, RIL market cap grew by Rs.108,213 crore as its overall market crossed $150 billion.

Among the others, HDFC Bank gained Rs.27,788 crore while ICICI Bank gained 12,729 crore. HDFC also gained nearly Rs.8110 crore while Bharti was another major gainer with Rs.6300 crore. During the week, Infosys, TCS and Kotak Bank jointly added Rs.13,000 crore to the market cap.

Among the losers, ITC lost Rs.12,169 crore in market cap while HUL lost Rs.3277 crore as FMCG came under pressure. The pressure on FMCG was more evident after some pressure was seen on the numbers amid fears that top-line recovery may take much longer.