 "Nifty zooms 1,000 points in just 9 trading sessions; HDFC Bank shines")
The sharp upswing in the market has got several traders off guard. Shrugging off grim economic forecasts and rising Covid-19 cases, the benchmark Nifty has climbed 11.4% — from 8,823 on May 18 to 9,826 on June 1 in just nine trading sessions.
Interestingly, all the 50 Nifty components have delivered positive gains during this period. The biggest contributor to the gains have been HDFC Bank and HDFC, accounting for a fourth of the 1,000-point rally on the Nifty. ITC, ICICI Bank and Reliance Industries are the next biggest contributors.
The biggest gain, however, has been posted by Eicher Motors (up 31% since May 18), followed by Zee Entertainment (24%).
Interestingly, all the 50 Nifty components have delivered positive gains during this period. The biggest contributor to the gains have been HDFC Bank and HDFC, accounting for a fourth of the 1,000-point rally on the Nifty. ITC, ICICI Bank and Reliance Industries are the next biggest contributors.
The biggest gain, however, has been posted by Eicher Motors (up 31% since May 18), followed by Zee Entertainment (24%).
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%