This week on Monday the S&P BSE Sensex achieved a significant milestone by surpassing the 70,000 mark, fueled by a positive market sentiment that continued to propel benchmark indices higher. The benchmark index experienced a notable increase of 0.33% during intra-day trade, reaching 70,057.83.
Sensex’s Ascent from 60,000 to 70,000: Performance Analysis and Key Contributors
The journey from its previous milestone of 60,000, attained for the first time on September 24, 2021, spanned 529 sessions for the index. However, despite this growth, the Sensex demonstrated underperformance compared to the BSE’s MidCap and SmallCap indices, which rose by 40.9% and 47.5%, respectively, during the same period of the Sensex’s progression from 60,000 to 70,000.
Noteworthy contributors to the Sensex’s 10,000-point rally were ITC Ltd., leading the way by adding 2,259 points during the growth period, and Larsen & Toubro Ltd., a close second with over 2,230 points added.
Top Performers and Sectoral Trends: Analysis of Percentage Gains in Sensex’s 10,000-Point Rally
In terms of percentage gain, NTPC Ltd. exhibited the highest growth, reaching 2.3 times its initial value, while Tata Motors Ltd. emerged as the second-largest gainer, rising to 1.26 times its initial value.
During this rally, companies primarily engaged in the power sector recorded the most significant growth, averaging 102.5%, followed closely by those in the automobile and auto components sector, which saw a 97% increase.
Conversely, the information technology sector lagged behind during the 10,000-point rally period, experiencing an average decline of 15.5%.
