has gone from 50,000 to 60,000 (19.5 per cent gain) in less than eight months. The index closed above the 50,000-level on February 3 and on Friday it topped the 60,000-mark for the first time.
Interestingly, only five stocks have accounted for over half of the 10,000-point move. These are Reliance Industries (RIL), Infosys, Tata Consultancy Services (TCS), and ICICI Bank.
In fact, RIL
and Infosys account for a third of the gains. This doesn’t mean other stocks have not gained. Bajaj Finserv has almost doubled, but given its low weightage its index contribution is just 5%.