In a landmark for the Indian stock market, the Bombay Stock Exchange (BSE) Sensex jumped past 70,000 for the first time, gaining 10,000 points since its last major milestone of 60,000, which it achieved in September 2021.
Since the assembly election results were released for five states in India, Sensex and Nifty have been touching record highs almost every day. Sensex closed at 70,057.83 on Monday, seeing a 0.33 per cent hike in 24 hours.
BSE Sensex touched 60,000 points for the first time on September 24, 2021, gaining 10,000 points in three years. During this time, BSE’s MidCap and SmallCap indices rose 40.9 per cent and 47 per cent, respectively.
However, certain stocks and sectors hold the most contribution towards leading Sensex to the 70,000 mark. The stocks which have been the biggest contributors in the same are ITC and Larson and Toubro.
Which stocks helped Sensex touch 70,000 points?
ITC was the biggest contributor to pushing BSE Sensex past the 70,000 point mark on Monday. During the period in which Sensex grew 10,000 points, ITC stock alone grew around 2,259 points. The second on the list is Larson and Toubro, which grew 2,238 points during this time.
The other three on the top five list are ICICI Bank, Mahindra and Mahindra, and NTPC, all of which grew over 1000 points to push Sensex past this historic landmark. The breakdown of point-wise contributors is mentioned below –
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
Further, the top stocks that recorded the most percentage gain during this time were NTPC, Tata Motors, Mahindra and Mahindra, and Larson the Toubro. These stocks grew 130 per cent, 126.2 per cent, 122.5 per cent and 90.8 per cent, respectively, during this period.
The power and automobile industries were the biggest sector-wise contributors to the 10,000-point jump in Sensex. It is predicted that the market will continue to go up for the next few days, keeping in mind the launch of bumper IPOs and the stellar performance of many stocks.
