The Indian stock market saw significant movements with mid-cap and small-cap indices leading a rally, reaching record highs. Since November 21, the Nifty index has risen by 5.69%, small-cap indices have soared by 10.77%, and mid-cap indices have climbed 7.94%. However, analysts have raised concerns about potential overvaluation risks in the mid- and small-cap segments. Among the top-valued firms, TCS's market valuation surged by Rs 62,574.82 crore to Rs 16,08,782.61 crore, while HDFC Bank added Rs 45,338.17 crore, reaching Rs 14,19,270.28 crore. Infosys and Reliance Industries also saw significant valuation increases of Rs 26,885.8 crore and Rs 2 lakh crore, respectively. The broader market recovered from intra-day lows, with banks playing a key role in the rebound. The Nifty Bank index recovered over 200 points from its day's low, while the Nifty index recovered 80 points, trading flat by the end of the session. Sensex also showed recovery alongside warnings of overvaluation risks.