The NSE Nifty 50 index surpassed the 13,000 mark for the first time ever as equity benchmarks scale records on expectations that Covid-19 vaccines will aid a quicker recovery from the pandemic-induced recession.
The 50-stock gauge, having erased the year's losses to turn positive on Nov. 6, had surpassed the previous intraday record of 12,430 on Nov. 9. The index gained the last 1,000 points—from 12,000 to 13,000—in 14 trading sessions, surging more than 8% during the period.
Also Read: Nifty At 13,000... Now What?
The Top Performers
Of the 50 Nifty constituents, 48 have gained during the last 14 trading sessions. Three of the top 10 gainers by percentage are financials. Two metal and three auto stocks, a construction giant and a PSU follow. The only two laggards during this period were Pharma majors Dr. Reddy’s Laboratories Ltd. and Cipla Ltd.
By points, the HDFC Bank Ltd. contributed the most to the Nifty upside, followed by Kotak Mahindra Bank Ltd. and Bajaj Finance Ltd. Seven of the top 10 contributors are financials.
The Sectoral Performance
Nifty Bank, Nifty Auto, Nifty PSU Bank, Nifty Realty and Nifty Metal indices saw double-digit gains in the last 14 sessions. Nifty Pharma, which was a laggard until Monday's trading session, turned positive for the 14-day period after outperforming on Monday.
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