InvestorQ : How did the heavyweights on the Nifty perform in the week ended on 01 January 2021?
Dilmini Mercia made post

How did the heavyweights on the Nifty perform in the week ended on 01 January 2021?

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Dawn Cherian answered.
2 months ago
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It was another positive week for the Nifty heavyweights even as bellwether Reliance Industries continued to be tepid. In fact, for the week ended 01 Jan 2021, a total of 7 out of the top 10 most valuable companies on the Nifty in terms of market capitalization managed to add Rs.75,845 crore of wealth for shareholders.

The week largely belonged to the HDFC twins as HDFC and HDFC Bank emerged as the two biggest winners during the week in terms of market value. HDFC saw its value grow by Rs.20,858 crore during the week while HDFC Bank was up 15,394 crore. Both the stocks have already shown a sharp recovery from lower levels.

Among other major heavyweights, Infosys gained Rs.10,251 crore, ICICI Bank gained Rs.9,609 crore and TCS gained Rs.7,411 crore. Overall banks and financials have had it quite good in the last few weeks and this week only reinforced that trend. Kotak Bank and Bajaj Finance also added to their market value heft during the week.

Among the losers, Reliance, HUL and Bharti Airtel lost nearly Rs.8,300 crore. While the losses were not too high, it remains to be seen how the heavyweight RIL reacts to the SEBI order. While the order is nothing new as it belongs to 2007, it could bring a sentimental cloud on the stock.

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