Benchmark indices Sensex and Nifty have been touching their lifetime highs for a while now, thanks to heavy FII inflows, guaranteed political continuity and stability, positive global cues, and healthy technicals.
Despite the poll-induced volatility, it took just 138 trading sessions for Sensex to reach from 70,000 points to 80,000. On Thursday, Sensex hit a life-time intraday high of 80,376 points at 10 am on Thursday.
According to a Moneycontrol analysis, the 10,000 point rally from 70,000 points to 80,000 was propelled by a few stocks— Reliance, Bharti Airtel, SBI, Mahindra & Mahindra and ICICI Bank. Together, they contributed 55 per cent to the Sensex market cap increase.
Reliance shares jumped over 20 per cent in the past six months, outperforming Sensex, which rose about 12 per cent during the same period.
Bharti Airtel saw a steep rise of over 35 per cent in the past six months, from Rs 1047 to Rs 1027, as of Thursday.
SBI shares too rose over 30 per cent during the same period.
Mahindra & Mahindra witnessed a phenomenal bull run of over 75 per cent during the same period, from Rs 1,641 to Rs 2,903.
ICICI Bank jumped over 24 per cent in the past six months, from Rs 987 to Rs 1,225 as of Thursday.
Other contributors to this bull run include TCS, Adani Ports, HDFC Bank, Tata Motors, Sun Pharma, NTPC, Ultratech Cement, Tata Steel, Infosys and Axis Bank. According to the Moneycontrol analysis, these stocks contributed 30 per cent to the increase.
