On May 24, Nifty reached a new high of 23,000, driven by a 1,000-point rally since January, led by five key stocks.
Nifty took 88 sessions to climb 1,000 points from 22,000 in January
ICICI Bank, Mahindra & Mahindra, SBI, Reliance Industries, and Bharti Airtel contributed over 75% to Nifty's 1,000-point surge.
ICICI Bank led with over 17.3% contribution, followed by Mahindra & Mahindra and SBI, each adding over 16% and 15%.
Reliance Industries contributed 15%, while Bharti Airtel added 14% to Nifty's remarkable rise.
ICICI Bank surged 14%, M&M 60%, SBI 36%, RIL 9%, Bharti Airtel 30%. HDFC Bank, Bajaj Finance, and Asian Paints saw declines.
Despite $3 billion in FII outflows, DIIs drove gains. It can be an interesting time to look out.