RIL, Infosys drive market rally

SENSEX@12000

Top five Sensex heavyweights are responsible for the latest 1,000-point rally, contributing over 60 per cent to the Sensex movement to 12,000 from 11,000.

Even though the Sensex touched the 11,000 mark on March 21, it came down sharply on that day and finally closed over 11,000 mark on March 27. From that day, it took 16 trading sessions for the 30-scrip BSE Sensex to climb the next 1,000 points.

Reliance Industries alone contributed one-fourth of the Sensex gains. Reliance moved up by over 25 per cent from Rs 794.15 on March 27 to Rs 994.90 on April 20. Infosys Technologies which has gained 13.73 per cent to Rs 3,277.25 contributed 141 points. The other major contributors to the Sensex were Tata Steel (85.38 points), Hindalco (57.44 points) and HDFC Bank (45.42 points).

In percentage terms, Tata Steel has been the second biggest gainer with its market price moving up 24.33 per cent "" from Rs 518 to Rs 644.05. Hindalco has appreciated by 23.07 per cent to Rs 215.55; ACC 22.68 per cent to Rs 962.85; Gujarat Ambuja Cement 19.37 per cent to Rs 117.40, Grasim 18.78 per cent to Rs 2352.45 and Ranbaxy 18.22 per cent to Rs 473.10.

Among the Sensex stocks, there are only five losers during this 1,000 points journey. State Bank of India topped the losers chart contributing 20.65 points. ICICI Bank came second with its contributions to Sensex decline by 19.73 points. HDFC (-14.84 points), Hero Honda (-3.55 points) and Tata Power (-1.63 points) were other major Sensex losers.

The market price of SBI has declined by 5.18 per cent to Rs 936.05; ICICI Bank by 2.13 per cent to Rs 587; HDFC by 2.96 per cent to Rs 1274.75; Hero Honda by 3.55 per cent to Rs 857 and Tata Power by 1.63 per cent to Rs 583.90.

The other major Sensex stocks which have lost momentum are Cipla, Dr Reddy's Laboratories, Maruti Udyog, NTPC and Reliance Energy. Cipla made a modest gain of 3.54 per cent to Rs 661.90; Maruti Udyog was 5.03 per cent while Dr Reddy gained 3.32 per cent, Reliance Energy 3.43 per cent and NTPC 1..68 per cent.

Hindustan Lever, the biggest contributors of the Sensex rally between 10,000 and 11,000 moved up 2.96 per cent contributing 13.73 points to the rally.

Wipro (16.05 points), TCS (14.80 points) and Satyam Computer (22.70 points) were other Sensex contributors.