42% gain this year: ITC drives Sensex in 2017

Indian markets have clocked one of their best 1st-half performance ever, ITC biggest contributor

With benchmark indices gaining 17 per cent, the Indian markets have clocked one of their best first-half performance ever. Interestingly, over a fifth of these gains are because of cigarette major ITC. It has gained an unprecedented 42 per cent, so far this year.  Because of its high free-float market capitalisation, ITC has the highest weight in the benchmark indices. Out of the 4,595 points gain on the Sensex in 2017, ITC itself has contributed 931 points. HDFC Bank, which is the second-biggest contributor, has contributed 690 points and followed by HDFC with 388 points. Among the stocks that have made negative contributions are Infosys, ONGC and Tata Motors. They have pulled down the index by 277, 184 and 169 points, respectively.