RIL, M&M contribute nearly 3,000 points to the 10K rally of Sensex

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ET Intelligence Group: The S&P BSE Sensex took over four and a half months or 139 days to be precise to cover the distance between 70,000 and 80,000 points on an intraday basis.

The journey of 10,000 points was skewed by a handful of stocks --- five out of the 30 stocks contributed over half or 5,646 points while the top two contributors added nearly one-third to the rally.

Reliance Industries was the top contributor adding 1,927 points. The country’s largest company by revenue and market capitalisation gained 26.3% since December 11, 2023 when the Sensex had touched 70,000 for the first time.

It was followed by Mahindra and Mahindra, which contributed 1,050 points and earned robust 74.2% returns during the period helped by upbeat demand for its passenger cars.

ET Bureau

ICICI Bank came third with a contribution of 963.5 points, yielding 18.5% returns amid improving asset quality and net interest margin. Bharti Airtel and State bank of India were the remaining companies in the top five contributors. Each of the two stocks gained over 37%.Among the seven companies that dragged the Sensex down included ITC, which pulled the benchmark index down by 266 points. After a strong rally last year, the cigarettes to hotels conglomerate failed to earn returns since December 2023 and lost 5.2% on bourses during the 10,000 points march of Sensex to 80,000. Asian Paints and Titan Company were some of the other companies that dragged the Sensex by 127 and 102 points.

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