Do you own any of these 28 stocks that helped Nifty scale Rs 100 lakh crore in market-cap?

The year 2020 will definitely be remembered for the market performance as the benchmark indices witnessed a complete V-shaped fall and recovery with the Nifty50 hitting fresh record high in January and then again in November.

The index surpassed Rs 100 lakh crore in market-capitalisation on November 11 due to rally for eight consecutive session.

In January, there was an all-time high following several government measures, including sharp cut in corporate tax rate, but COVID-19 pandemic punctured the economic growth.

The Nifty50 market-capitalisation stood at Rs 101.3 lakh crore intraday on November 11 though at closing it fell to Rs 99.88 lakh crore. The Nifty 50 stocks added Rs 41.46 lakh crore in market-capitalisation from March 23's closing low, while all stocks, barring Coal India, participated in the recovery.

Out of 50, top 28 stocks rallied 61-137 percent from March closing lows, which added Rs 32.5 lakh crore in market-capitalisation.

The most prominent ones which added maximum market-capitalisation were Reliance Industries, TCS, Infosys, HDFC Bank, Wipro, HCL Technologies, Bajaj Finance, ICICI Bank and Kotak Mahindra Bank.

Furthermore, out of Nifty 50, top 8 stocks gave multibagger returns i.e. 104-137 percent from March closing low till November 11. These were JSW Steel, IndusInd Bank, Hindalco Industries, Reliance Industries, Tata Motors, Mahindra & Mahindra, Infosys and Wipro.

The Nifty50 index itself surged 67.5 percent from its March lows to end at record closing high of 12,749.15 on November 11, which is way beyond the expectations of market experts. Intraday record high for Nifty50 was 12,769.75 on same day.

The major reason behind the rally and record high levels was the gush of liquidity and that is expected to continue, experts feel.

FIIs have net bought Rs 29,782.31 crore worth of shares in just eight sessions of November month, against Rs 14,537.40 crore of buyinn in previous month, though DIIs took the advantage of rally to book profits and sold total more than Rs 32,000 crore of shares in both months.

"This trend is likely to continue even going forward. On the external front, we have been in a comfortable situation with large and growing Forex reserves and surplus situation on current account," Harsha Upadhyaya, President & CIO – Equity at Kotak Mahindra Asset Management Company told Moneycontrol.

"Sustained FII buying is imparting strength to the market even at high levels. Investors have to be cautious at these levels and remain invested in quality largecaps. Last month witnessed lots of mutual fund redemptions & stoppage of SIPs. These decisions have already been proved wrong," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Another major reason was the better-than-expected September quarter earnings, which raised hopes for strong FY22 earnings and as a result, there were more upgrades than downgrades.

"Nearly 80 percent of companies have announced September quarter results until now, and have delivered much better earnings at around 22 percent year-on-year growth as compared to subdued expectations. During the earnings season, we have also seen some earnings upgrades of about 3-4 percent for FY22 by the street," said Harsha Upadhyaya.

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