Stock Market: Stock Market Update – Only these 6 shares pulled Nifty up

News Topical, Digital Desk :  The Indian stock market may be reaching record levels, but the true picture of this rally tells a different story. On Thursday, the Nifty 50 surpassed its previous all-time high by jumping to 26,246.65. Although it later declined slightly, the index managed to end the day with a gain of 0.5 percent. Similarly, the Sensex fell just 350 points short of its record level. However, this rally was not uniformly reflected across the market.

Only these 6 giants pulled Nifty up.
According to Moneycontrol, from the beginning, this rally was concentrated on a very select group of stocks. Since the beginning of October, Nifty has risen by approximately 1,550 points, or about 6 percent, but 60 percent of this gain has come from just six major stocks. These include Reliance Industries, HDFC Bank, Bharti Airtel, SBI, L&T, and Axis Bank, which contributed the most to the index's rise. The next seven major stocks, Infosys, Shriram Finance, HCL Tech, TCS, M&M, ICICI Bank, and Asian Paints, together contributed approximately 27 percent of the gain. The remaining stocks had a minimal impact. More than half of the Nifty stocks contributed only 15 percent, with 15 stocks adding only single points to the index. 11 stocks provided limited support of only 10 to 50 points. BSE MidCap is still about 5 percent below its record level, while BSE SmallCap is even lower, at about 9 percent. The result is that even though the market is reaching new heights, most investors are unable to participate in this rally because the weight of the rally is concentrated in a small number of stocks. 

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