Historic 70,000 Mark: ITC and Larson & Toubro Lead the Charge with 10,000-Point Surge
Strong Performances in Power and Automobile Sectors Propel Sensex to Record High
The Indian stock market, the Bombay Stock Exchange (BSE) Sensex has breached the 70,000-point mark, marking a remarkable gain of 10,000 points since its last major achievement of 60,000 in September 2021.
Following the release of assembly election results in five Indian states, both Sensex and Nifty have consistently reached record highs. Sensex closed at 70,057.83 on Monday, reflecting a 0.33% increase within a 24-hour period.
The journey from 60,000 to 70,000 points over three years witnessed robust growth in BSE's MidCap and SmallCap indices, which surged by 40.9% and 47%, respectively.
Contributors to Sensex Surpassing 70,000: Among the various stocks and sectors, ITC and Larson & Toubro emerged as the major contributors to Sensex reaching the historic 70,000-point milestone.
ITC led the pack, contributing 2,259 points to the surge, while Larson & Toubro closely followed with a growth of 2,238 points during this period.
Additional contributors in the top five include ICICI Bank, Mahindra and Mahindra, and NTPC, each contributing over 1,000 points to propel Sensex beyond this historic landmark.
Breakdown of Point-Wise Contributors:
- ITC: 2,259 points
- Larson and Toubro: 2,238 points
- ICICI Bank: 1,493 points
- Mahindra and Mahindra: 1,101 points
- NTPC: 1,090 points
Top Percentage Gainers: In terms of percentage gain, NTPC, Tata Motors, Mahindra and Mahindra, and Larson & Toubro recorded the most significant growth, with increases of 130%, 126.2%, 122.5%, and 90.8%, respectively, during this period.
Sector-Wise Contributions: The power and automobile industries played pivotal roles in driving the 10,000-point surge in Sensex, with expectations that the market will continue its upward trajectory in the coming days, fueled by the launch of prominent IPOs and stellar performances across various stocks.
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