Nifty 500’s 1,000-Point Rally Has Been Lopsided

The 1,000-point rally in the Nifty 500 Index in the past five months has been lopsided.Large-cap stocks in the Nifty 50 index accounted for close to three-fourths of the jump in the broader index since the previous low on Oct. 26 last year till March 13, contributing nearly 720 points. The remaining 450 accounted for 280 points. That’s almost equivalent to the contribution of just three Nifty 50 heavyweights—Reliance Industries Ltd.,...