InvestorQ : How did the big heavyweight stocks on the Nifty perform in the previous week ending on 05 February?
sara Kunju made post

How did the big heavyweight stocks on the Nifty perform in the previous week ending on 05 February?

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Mary Joseph answered.
5 months ago
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One can safely assume that all the heavyweights would have done well in a week when the indices were up more than 4200 points. If that sounds intuitively correct, it is also correct in reality. When Bank Nifty rallies 16% against the Nifty rally of 9.5% in a single week, you can be dead sure that the weekly rally was dominated by the banks.

Banks, it were, that dominated the rally because a bulk of the value created was accounted for by the large private banks plus SBI and other financials. The top 10 companies by market cap put together added market value in the week to the tune of Rs.513,533 crore. HDFC Bank was the market leader in the week adding Rs.113,517 crore during the week.

However, it was not just about HDFC Bank alone. The rally was ably supported by the State Bank of India with a market value accretion of Rs.99,064 crore. It is hard to recollect when was the last time SBI saw such a sharp rally in a single week. This was on the back of solid results as well as the return of the sum-of-parts story in SBI.

Among the other big gainers, there was HDFC which added Rs.61,837 crore and ICICI Bank which added Rs.53,607 crore. In addition, Kotak Bank added Rs.53,396 crore and Bajaj Finance also added Rs.48,376 crore completing the financial domination cycle. Reliance Industries added 51,254 crore among non-banks. There were no major value losers during the week amongst the heavyweights.

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