5 blue chips help Nifty rally; RIL, ITC among top performers

The near-2000-point record-breaking rally in the Nifty since March 20, when the index hit 2023 low of 16,828, has been driven by five blue chips. Reliance Industries, ITC, ICICI Bank, Bajaj Finance, and Axis Bank have contributed 40% or 760 points.
Reliance contributed 272 points to the Nifty rally. Indian markets closed at record highs on Friday, with the Nifty closing at 18,826 and the Sensex at 63,385. Nifty 50 is now only 63 points away from an all-time high level, whereas Sensex closed just 198 points away from the record high hit on December 1, 2022.

Since December 1, ITC has been the biggest gainer with a 33% gain, followed by Tata Motors and Bajaj Auto, which rose 30% and 25%, respectively. Adani Enterprises, Infosys, and Adani Ports have been among the biggest losers. Sectors such as defence, FMCG, realty, auto, and transportation & logistics rallied between 10% and 18% since December 1, 2022.