Is the Nifty on course to breeze past its 52-week high of 12,430.5?

Nifty reclaimed the 12,000 mark in trade on Monday - a level last seen in February 2020. The rally since February low has been mostly fueled by pharma, IT and auto stocks, data show

Nifty reclaimed the 12,000 mark in trade on Monday - a level last seen in February 2020. The rally since February low has been mostly fueled by pharma, information technology (IT) services and automobile stocks. 

A large part of this, however, has also been on account of a sharp uptick in Reliance Industries (RIL) as the company emkarked upon a journey to become debt free, and raise money for its telecom venture - Jio Platforms via stake sale to marquee global investors. That apart, the acquisition of Future Group and the ensuing stake sales in Reliance Retail also propped up RIL,