Which stocks pulled Nifty 50 to its all-time high after 14 months?

Nifty 50 Index Led by Reliance, TCS and Bharti Airtel

In the 14 months through 27 November, Reliance Industries pulled up the Nifty 50 index by 2669 points, followed closely by TCS which contributed 2580 points, and Bharti Airtel with 1638 points, according to an analysis of index weightages.

Top Constituents of the Nifty 50 Index

• HDFC Bank (12.85%)
• Reliance Industries (8.8%)
• ICICI Bank (8.3%)
• Bharti Airtel (4.7%)
• Infosys (4.7%)

Performance of the Top Stocks

Over the 14-month period, Bharti Airtel gained 19.45% and Reliance 4.3%, while TCS ended lower by 26%.

Expert Analysis

"Crossing a new yearly high typically requires strong support from large-cap leaders such as Reliance Industries, Bharti Airtel, HDFC Bank, Infosys, Hindustan Unilever, and others," said Shrikant Chouhan, head of equity research at Kotak Securities.

"Bharti Airtel has outperformed the market over the past year, remaining steady even during the January–February correction, as its business was insulated from US tariff issues," said Dinesh Nagpal, an independent technical analyst.

Weightage Impact on Index

TCS still continued to pull the index with negative returns, despite its heavy weightage, said Rajesh Palviya, senior vice president, technical and derivative research at Axis Securities.

Palviya added that pockets of foreign investor inflows during the period also flowed into large-caps due to limited deployment options amid global volatility, tariff uncertainties, potential Fed moves, geopolitical tensions, and weak earnings in recent quarters.

Winners and Laggards

• Stocks that gave the highest returns in the Nifty 50 index were:
• Bharat Electronics (42%)
• Eicher Motors (40%)
• Bajaj Finance (33%)
• Stocks that gave the lowest returns were:
• Trent (-45%)
• Tata Motors (-40%)
• Bajaj Auto (-28%)

Further Rally Requirements

"For Nifty 50 to further rally and fall into new territory it has to be led by banking majors," said Nagpal.