The 30-share BSE Sensex is hovering above the Mount 80,000-mark, which the index first achieved on July 3, fuelled by its fastest-ever 10,000-point bullish rally in a record 58 sessions. The top 10 best-performing Sensex gainers reported a sharp surge of 15-75 per cent in their stock prices during the first six months of 2024– when the benchmark covered its record run from 70,000 to 80,000-mark.
The top 10 Sensex gainers in the last six months included index heavyweights such as Mahindra & Mahindra (M&M), Power Grid Corp of India, Bharti Airtel, among others. However, stock exchange data suggests that a total of 13 top gainers on Sensex outperformed the benchmark during H12024 (January-June 2024). The frontline index gained nearly 14.37 per cent during this period.
D-Street leaders of H12024
Auto major Mahindra & Mahindra (M&M) emerged as the top Sensex gainer with a significant gain of 73,75 per cent in its stock price, followed by Power Grid Corp of India, which rose 43.43 per cent in the last six months, as of July 3.
On the other hand, Asian Paints, Titan Company Ltd, and IndusInd Bank were among the top three Sensex losers in the last six months, registering a drop of 12.89 per cent, 8.79 per cent, and 6.56 per cent in their respective stock prices.
Top 10 Sensex gainers in H12024:
Here are the top Sensex performers which gained the most in the last six months and outperformed the Sensex during the 138-day journey:
1.M&M: The Mahindra-Group auto major dominated the Sensex and emerged as the index top gainer in H1 recording a massive gain of 73.75 per cent in its stock price.2.Power Grid Corp of India Ltd: The electric power transmission public-sector undertaking (PSU) emerged as the second top gainer of Sensex in H1 registering a gain of 43.43 per cent in its stock price.3.Bharti Airtel Ltd: The telecom major emerged as the third top gainer of Sensex in H1, recording a gain of 38.99 per cent in its stock price.4.State Bank of India (SBI): India’s largest state-owned lender emerged as the fourth top gainer of Sensex in HI, witnessing a 33.67 per cent gain in its stock price.5.Tata Steel: The Tata Group steel major emerged as the fifth top gainer of Sensex in HI, witnessing a 28.92 per cent gain in its stock price.6.Tata Motors: The Tata Group auto major was the sixth top gainer of Sensex in H1, recording a gain of 25.13 per cent in its stock price.7.NTPC: India’s largest power generation company was the seventh top gainer of Sensex, registering a gain of 22.57 per cent in its stock price.8.ICICI Bank Ltd: The leading private lender was the eighth top gainer of Sensex, recording a gain of 22.31 per cent in its stock price.9.Reliance Industries: The oil-to-telecom conglomerate emerged as the ninth top gainer of Sensex in H1, witnessing a gain of 18.94 per cent in its stock price.10.Sun Pharmaceuticals: The pharma major was the tenth top gainer of Sensex in H1, recording a gain of 18.89 per cent in its stock price.
11.Maruti Suzuki India Ltd: India’s largest auto major outperformed Sensex in H1, recording a sharp gain of 18.88 per cent in its stock price.
12.Axis Bank: The leading private lender outperformed Sensex in H1, recording a sharp gain of 17.10 per cent in its stock price.
13.UltraTech Cement Ltd: The leading cement company outperformed Sensex in H1, recording a sharp gain of 16.35 per cent in its stock price.
Stock Market Today
The record-setting spree of Indian stock markets continued on Thursday, July 4, with investors booking profits at higher levels. Sensex and Nifty 50 settled with nominal gains after rising half a per cent each and hitting all-time high levels. The indices opened bullishly and traded with gains in the session amid positive global cues. But gains were pared significantly toward the end of the session, hinting at the rising caution against the market’s premium valuation.
Sensex climbed 62.87 points or 0.08 per cent to settle at a new closing peak of 80,049.67. During the day, it rallied 405.84 points to hit a fresh all-time high of 80,392.64. Nifty rose 15.65 points or 0.06 per cent to settle at a record closing peak of 24,302.15. Intra-day, it surged 114.5 points to hit a fresh lifetime high of 24,401.
The broader, more domestically focussed small- and mid-caps rose about 0.5 per cent each today, outperforming the benchmarks. On Wednesday, the 30-share index hit the historic 80,000 mark for the first time intra-day trade. It surged 632.85 points or 0.79 per cent to a record intraday high of 80,074.30.
Where is Sensex headed? What should investors do now?
Market experts noted that on intraday charts, the Sensex is holding a higher high and higher low formation, which supports a further uptrend from the current levels. The long-term Sensex milestones give confidence that equity markets did perform well in the long run, according to analysts.
Traders need to be patient while investing and even after it. Based on the current domestic macros, experts advice to continue investing systematically in equities with a long-term perspective, maintaining caution at the same time.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
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