The sharp upswing in the market has got several traders off guard. Shrugging off grim economic forecasts and rising Covid-19 cases, the benchmark 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 components have delivered positive gains during this period. The biggest contributor to the gains have been Bank and HDFC, accounting for a fourth of the 1,000-point rally on the ITC, and are the next biggest contributors.

The biggest gain, however, has been posted by (up 31% since May 18), followed by Zee Entertainment (24%).


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