There was a stormy rally in the stock market on Friday and Nifty showed a rise of 557 points while covering all its short positions. Nifty closed at the level of 23907. Meanwhile, buying was seen in IT, banking, real estate, metal, and other sectors.

In this boom in the market, more than 150 stocks from different sectors came close to or crossed their 52-week level. 163 stocks including HCL Tech, Persistent Systems, Indian Hotels, and Federal Bank touched their new 52-week high in intraday trading on BSE on Friday, November 22. Many stocks also jumped to 52-week highs in the Sensex and Nifty 50 today by more than 2 percent.

Coforge, Coromandel International, Crisil, Fortis Healthcare, Krishna Institute of Medical Sciences, Mastek, and National Aluminium were also among the stocks that reached their one-year high.

Largecaps performed better than midcaps and smallcaps. Sensex closed at 79117, up 1,961 points or 2.54 percent, while Nifty closed at 23,907, up 557 points or 2.39 percent. The BSE Midcap and BSE Smallcap indices rose 1.26 percent and 0.90 percent respectively.

The total market capitalization (market cap) of BSE-listed companies rose to about Rs 432.7 lakh crore from Rs 425.4 lakh crore in the previous session, increasing the market cap by about Rs 7.3 lakh crore in a single day.

All 30 stocks in the Sensex index closed with gains, with SBI, TCS, Titan, ITC, and Infosys gaining the most by 4 to 5 percent.

Reliance Industries, Infosys, ICICI Bank, TCS, ITC, Larsen & Toubro, SBI, and Bharti Airtel emerged as the top contributors to the Sensex rally, each adding more than 100 points to the index.

Experts believe that when a stock starts trading above 52-week level, its upside potential increases. In today's rally, upside targets have opened for many stocks that have reached 52-week level. In this pack, investors' eyes are on IT stocks.