 "ITC, Infosys, ICICI Bank contribute over 50% of 600 point Sensex rally")
ITC, Infosys and ICICI Bank collectively contributed 370 points of the Sensex's 777 points rise, the BSE data showed.
Three stocks – ITC, Infosys and ICICI Bank - have contributed a nearly half to the benchmark Sensex’s rally of over 750 points today.
These three stocks collectively contributed 370 points to the Sensex’s 777 points rise, which ended at 23,779 on Tuesday, the BSE data showed. The benchmark index has risen by 1,284 points, or 5.7%, from its 52-week low of 22,495 touched on Monday in intra-day trade.
ITC has contributed one-fourth or 183 points of the total Sensex rally. Today, the stock of cigarettes makers rallied 10% to Rs 325, surging nearly 21% from its 52-week low. It touched a 52-week low of Rs 268 on Monday in intra-day trade, following the increase in excise duty on cigarettes in the Union Budget.
The Union Budget announced on Monday an increase in additional excise duty (AED), which forms a very small portion of the overall excise duty on filter cigarettes while kept the Basic Excise Duty (BED) unchanged for FY17.
According to Antique Stock Broking, this development as quite positive from ITC's point of view as after 5 years of incessant increase in excise today rates (2x in 5 years across all lengths), the legal cigarette industry was given a relief in the form of a benign increase of 10% in Total Excise Duty (TED).
ICICI Bank has rallied 8% to Rs 205 on the BSE, contributed 97 points, while Infosys which up nearly 4%, contributed 90 points of total benchmark index surge.
Meanwhile, total investors wealth increased by over Rs 2.50 lakh crore in single day, as the Sensex recorded its biggest single day gain in absolute terms since May 2009. In per centage terms, it was up 3.4% on September 19, 2013.
Measured in terms of total market capitalisation of all listed companies on the country’s biggest bourse BSE, the overall investor wealth in the Indian stock market rose by Rs 2.52 lakh crore to Rs 88.35 crore from Rs 85.83 crore on Monday.
In May 18, 2009, the benchmark index had rallied 17.34% or 2,111 points at 14,284 when the United Progressive Alliance (UPA) government led by Congress won the elections with a handsome margin.
These three stocks collectively contributed 370 points to the Sensex’s 777 points rise, which ended at 23,779 on Tuesday, the BSE data showed. The benchmark index has risen by 1,284 points, or 5.7%, from its 52-week low of 22,495 touched on Monday in intra-day trade.
ITC has contributed one-fourth or 183 points of the total Sensex rally. Today, the stock of cigarettes makers rallied 10% to Rs 325, surging nearly 21% from its 52-week low. It touched a 52-week low of Rs 268 on Monday in intra-day trade, following the increase in excise duty on cigarettes in the Union Budget.
The Union Budget announced on Monday an increase in additional excise duty (AED), which forms a very small portion of the overall excise duty on filter cigarettes while kept the Basic Excise Duty (BED) unchanged for FY17.
According to Antique Stock Broking, this development as quite positive from ITC's point of view as after 5 years of incessant increase in excise today rates (2x in 5 years across all lengths), the legal cigarette industry was given a relief in the form of a benign increase of 10% in Total Excise Duty (TED).
ICICI Bank has rallied 8% to Rs 205 on the BSE, contributed 97 points, while Infosys which up nearly 4%, contributed 90 points of total benchmark index surge.
Meanwhile, total investors wealth increased by over Rs 2.50 lakh crore in single day, as the Sensex recorded its biggest single day gain in absolute terms since May 2009. In per centage terms, it was up 3.4% on September 19, 2013.
Measured in terms of total market capitalisation of all listed companies on the country’s biggest bourse BSE, the overall investor wealth in the Indian stock market rose by Rs 2.52 lakh crore to Rs 88.35 crore from Rs 85.83 crore on Monday.
In May 18, 2009, the benchmark index had rallied 17.34% or 2,111 points at 14,284 when the United Progressive Alliance (UPA) government led by Congress won the elections with a handsome margin.
| Company | LTP | % chg* | Pts Contribution |
| ITC | 325.10 | 9.91 | 182.77 |
| ICICI Bank | 205.10 | 7.95 | 97.36 |
| Infosys | 1124.50 | 3.76 | 90.34 |
| TCS | 2275.00 | 4.27 | 52.92 |
| L&T | 1123.75 | 4.12 | 40.46 |
| Maruti Suzuki | 3495.50 | 7.80 | 37.29 |
| Tata Motors | 315.30 | 5.01 | 31.82 |
| Axis Bank | 391.90 | 4.44 | 31.19 |
| Reliance Ind | 982.25 | 1.62 | 28.78 |
| HDFC Bank | 985.00 | 1.28 | 27.18 |
| S&P BSE Sensex | 23779.35 | 3.38 | 777.35 |
| LTP : Last traded price on BSE in Rs | |||
| *Change over previous close | |||
| Source: BSE | |||
