ITC becomes most influential stock in Sensex
Mumbai: Diversified group ITC on Thursday surpassed Reliance Industries as the most influential stock on the Sensex, following a spurt in the stock price.
At the end of trade on Thursday, ITC commanded 9.69 per cent weight in the BSE 30-share index, Sensex, while RIL had 9.61 per cent weight, followed by Infosys (8.06 per cent).
Shares of ITC ended with a gain of 1.64 per cent, while RIL was down 0.98 per cent on the BSE, in an overall weak stock market.
Weight of a stock is measured by the value of a company's free-float or non-promoter shares that can be freely traded in the market.
ITC had first replaced RIL as the most influential stock on Indian bourses on April 17 last year, but the very next day the energy major regained the status.
RIL, however, remains the country's most valued company in terms of market capitalisation. The energy major commands a market value of Rs 2,95,840 crore.
ONGC is the second most value company with a m-cap of Rs 2,87,721 crore, followed by TCS (Rs 2,59,478 crore), ITC (Rs 2,34,300 crore) and Coal India (Rs 2,17,093 crore).