Sensex is up 73% and climbing

The Bombay Stock Exchange Sensex gained 73 per cent in 2003, the highest in the past 12 years.

In 1991, reacting to the first flush of liberalisation, the Sensex had gained 82 per cent (860.56 points) at 1,908.85 from 1,048.29.

Yesterday, the Sensex closed at 5,838.96, gaining 2,461.68 points from 3,377.28 on December 31, 2002. The index had appreciated 64 per cent (1,950.41 points) in 1999 from 3,055.41 to 5,005.82.

In the last five calendar years, the Sensex has closed with gains in three: 1999, 2002 and 2003. But it closed 21 per cent lower in 2000 and 18 per cent lower in 2001.

The Sensex's whopping gains came from 17 stocks, whose prices appreciated over 80 per cent during the year. Not a single scrip in the 30-scrip Sensex closed the year at a price lower than in the beginning.

The prices of these scrips appreciated between 7 per cent and 359 per cent. While the prices of 12 scrips climbed over 110 per cent, those of 10 climbed between 50 per cent and 100 per cent.

The Bharti Tele-Ventures scrip was the biggest gainer, jumping 359 per cent from Rs 22.90 on December 31, 2002, to Rs 105.10 today. The Grasim Industries scrip climbed 218 per cent from Rs 315.25 to Rs 1,003.95, while the Bharat Heavy Electricals scrip jumped 194 per cent from Rs 172.60 to Rs 507.95.

Three Tata group companies ""Tata Steel, Tata Motors and Tata Power "" appreciated more than 180 per cent during the period. The Tata Steel scrip vaulted from Rs 151.50 to Rs 444.05, Tata Motors from Rs 161.35 to Rs 452.30 and Tata Power from Rs 111.70 to Rs 313.90.

Heavyweight stocks like Reliance Industries gained 92 per cent at Rs 573 from Rs 297.70, Infosys Technologies 17 per cent at Rs 5,563.70 (Rs 4,771.15), Hindustan Lever 13 per cent at Rs 204.70 (Rs 181.75), ICICI Bank 110 per cent at Rs 295.70 (Rs 140.55), ITC 49 per cent at Rs 984.55 (Rs 660.40) and Ranbaxy's Laboratories 85 per cent at Rs 1,098.20 (Rs 593.25).

The Larsen and Toubro scrip climbed 147 per cent from Rs 213.55 to Rs 527.35, followed by Hindalco 140 per cent to Rs 1,408.30 (Rs 586.35), BSES 130 per cent to Rs 510.90 (Rs 222.25), ONGC 129 per cent to Rs 799.50 (Rs 349.80) and Bajaj Auto 126 per cent to Rs 1,137.35 (Rs 502.30).

The Gujarat Ambuja Cement scrip rose 86 per cent from Rs 163.35 to Rs 303.85, while HDFC gained 80 per cent at Rs 644.35 from Rs 358.20.