InvestorQ : Which of the heavy weight stocks performed very well in the last week ending before the Diwali holidays?
Arti Chavan made post

Which of the heavy weight stocks performed very well in the last week ending before the Diwali holidays?

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Rutuja Nigam answered.
9 months ago
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There was a clear bull run in the week before Diwali and the funniest part was that neither Reliance Industries nor TCS was a part of the rally. In fact, as I will explain later, these are the two companies that actually saw value loss during the week.

It was a week that belonged to the bulls with 8 out of the 10 most valuable companies on the Nifty in terms of market capitalization adding as much as Rs.190,000 crore to overall market value. This is the second week, we are seeing aggressive market cap accretion.

Ironically, the two heaviest stocks in the Nifty; which is Reliance and TCS gave negative returns during the week. The two heavyweights TCS and RIL lost Rs.32,300 crore between them in the week. That the market gained despite that shows good breadth and depth.

There was finally some good news for Bajaj Finance. This financial arm of the Bajaj group headed by Sanjiv Bajaj entered the top-10 list replacing HCL Tech. Interestingly, Bajaj Finance was the largest wealth creator during the week adding nearly Rs.35,879 crore in market cap during the week.

Like in the first week of November, the second week also belonged largely to banks and financials. Apart from Bajaj Finance; HDFC, HDFC Bank and ICICI bank added Rs.100,000 crore of market value between them. HUL and Bharti also added another Rs.39,500 crore between them, while the contribution of Infy was much smaller.

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