/images/ppid_59c68470-image-176173763523233067.webp)
What is the story about?
The benchmark Nifty50 is now just 150 points shy of its record closing high from September 26, 2024 and is on track to log its third-highest close ever. What’s even more striking is the index’s 18% surge from its March lows, adding nearly 4,000 points over the period.
The rally hasn’t been entirely smooth, but market heavyweights have done the heavy lifting. Three stocks — HDFC Bank, Reliance Industries and Bharti Airtel — together accounted for nearly one-third of the Nifty’s total gains during this run, data compiled by CNBC-TV18 show. The trio together command a weight of over 26% in the index, with HDFC Bank alone contributing almost 13%, followed by Reliance Industries at 8.6%.
Interestingly, this surge has come even without participation from the IT sector, which remains under pressure. The five-member IT pack — including TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra — now carries a combined weight of just 13%, less than HDFC Bank’s alone.
Also Read: November Series F&O Setup: Nifty aims for third straight series gain with record highs in sight
Investor sentiment also appears to be getting a lift from renewed foreign inflows. According to provisional exchange data, foreign investors bought $1.2 billion worth of Indian equities on Tuesday, October 28 — the second-biggest single-day purchase of 2025. Month-to-date, FPI inflows have topped $2.5 billion, a sharp reversal from the $9.3 billion outflow in the September quarter.
FII positioning in the NSE index futures market reflects this shift: their short positions have narrowed to about 80%, from 93% at the start of October. "FII underweight positions have reached their limits — we could see them returning soon," said Sandeep Tandon, Founder and CIO, Quant Mutual Fund.
Among Nifty50 constituents, Bharat Electronics led the rally with a 55% gain, followed by Jio Financial Services at 50%. Stocks likeEternal, Eicher Motors, SBI Life Insuranceand Maruti Suzuki also surged between 40% and 45%. On the flip side, IT stocks were the notable laggards, with Wipro and TCS down more than 13% each, and Infosys slipping 10.4%.
Also Read: MCX explains cause of Tuesday’s trading delay, says system review is underway
The rally hasn’t been entirely smooth, but market heavyweights have done the heavy lifting. Three stocks — HDFC Bank, Reliance Industries and Bharti Airtel — together accounted for nearly one-third of the Nifty’s total gains during this run, data compiled by CNBC-TV18 show. The trio together command a weight of over 26% in the index, with HDFC Bank alone contributing almost 13%, followed by Reliance Industries at 8.6%.
Interestingly, this surge has come even without participation from the IT sector, which remains under pressure. The five-member IT pack — including TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra — now carries a combined weight of just 13%, less than HDFC Bank’s alone.
Also Read: November Series F&O Setup: Nifty aims for third straight series gain with record highs in sight
Investor sentiment also appears to be getting a lift from renewed foreign inflows. According to provisional exchange data, foreign investors bought $1.2 billion worth of Indian equities on Tuesday, October 28 — the second-biggest single-day purchase of 2025. Month-to-date, FPI inflows have topped $2.5 billion, a sharp reversal from the $9.3 billion outflow in the September quarter.
FII positioning in the NSE index futures market reflects this shift: their short positions have narrowed to about 80%, from 93% at the start of October. "FII underweight positions have reached their limits — we could see them returning soon," said Sandeep Tandon, Founder and CIO, Quant Mutual Fund.
Among Nifty50 constituents, Bharat Electronics led the rally with a 55% gain, followed by Jio Financial Services at 50%. Stocks likeEternal, Eicher Motors, SBI Life Insuranceand Maruti Suzuki also surged between 40% and 45%. On the flip side, IT stocks were the notable laggards, with Wipro and TCS down more than 13% each, and Infosys slipping 10.4%.
Also Read: MCX explains cause of Tuesday’s trading delay, says system review is underway
/images/ppid_a911dc6a-image-177073422588955268.webp)
/images/ppid_a911dc6a-image-177073406474645209.webp)
/images/ppid_a911dc6a-image-177073412509241364.webp)
/images/ppid_a911dc6a-image-177073402755726223.webp)
/images/ppid_a911dc6a-image-177073406528147283.webp)
/images/ppid_a911dc6a-image-177073402422810189.webp)
