Reliance regains most influential status on Sensex
Energy major Reliance Industries on Tuesday dislodged FMCG major ITC as Sensex's most influential stock for the second time within a week.
Mumbai: Energy major Reliance Industries on Tuesday dislodged FMCG major ITC as Sensex's most influential stock for the second time within a week.
Reliance Industries Ltd (RIL) had dethroned ITC from the top position on May 30, but could retain this title only for a day.
On June 1, ITC regained the most influential status, pushing the oil and gas giant down to the second slot.
Measured in terms of their weightage on the stock market's barometer index, the Sensex, RIL is the most influential stock on this 30-share index with a weightage of 9.41 percent. ITC's weightage at the end of today's trading session was 9.19 percent, according to BSE data.
The BSE Sensex weightage of a stock changes daily and is determined on the basis of market value of a company's free-float shares, or the shares owned by public shareholders that are freely available for trading in the market.
At the end of today's trade, RIL's free-float market valuation stood at Rs 126,475.42 crore, higher than ITC's Rs 123,605.38 crore.
Shares of RIL ended 1.39 percent higher, while ITC was down 1.89 percent in today's trade.
However, at the NSE's Nifty index, another barometer of the Indian stock market, ITC has managed to retain its position of the top-ranked stock. ITC commanded a weightage of of 8.04 percent in Nifty higher than RIL's 7.79 percent today.
In terms of total market value, including the value of promoter shares, RIL remains the second most-valued company with a market capitalisation of Rs 2,29,955 crore, while ITC is the country’s fifth most valued firm with Rs 1,76,578.56 crore.
RIL has enjoyed its position as the most influential stock for many years and the movement in its share price has been crucial for any major fall or rise in the indices.