Sensex journey from 60,000 to 70,000: An analysis

Madhav Suresh BL Research Bureau Updated - December 19, 2023 at 11:13 AM.

Sensex has touched yet another milestone by closing above 70,000. Earlier, the Sensex recovered past 60,000 in April this year and it took over 170 trading sessions to reach the 70k milestone. Given that the index is based on a free-float market cap, we analysed which companies contributed the most to this upside based on their weights.

It is noteworthy to highlight that L&T’s contribution to the upside was more than the next two stocks’ contribution put together.

Also read: How the rupee has held up

The list of best performers in terms of share price returns is different from the above.

Infosys and Reliance gave positive returns but it witnessed net reduction in the index weights.

Only 2 out of 30 constituents posted negative returns in the analysed period.

Note: For this analysis, we have excluded HDFC Ltd due to its merger with HDFC Bank and JSW Steel Ltd due to not being part of the index in April. Weights for Sensex stocks considered as of end-April 2023. Price performance is for the period April 11 - December 14

Published on December 16, 2023 09:01