RIL regains most influential stock status
Reliance Industries on Wednesday reclaimed the status of most influential stock on the BSE benchmark Sensex index, pushing FMCG major ITC to the second slot.
Mumbai: Reliance Industries on Wednesday reclaimed the status of most influential stock on the BSE benchmark Sensex index, pushing FMCG major ITC to the second slot.
ITC had earlier dethroned Reliance Industries (RIL) from the top position on May 9, 2012, and since then it remained at the numero-uno position but, lost the coveted position on Wednesday.
After over 20 days, RIL regained the top slot in terms of Sensex weightage, which is measured by the value of a company's free-float or non-promoter shares that can be freely traded in the market.
RIL has a weightage of 9.29 percent, while ITC has 9.27 percent weight, followed by Infosys which commanded a weight of 8.64 percent on Sensex.
Shares of RIL closed 0.63 percent higher at Rs 706.20, while ITC was up 0.30 percent at Rs 231.90 on the BSE.
ITC had first replaced RIL as the most influential stock on Indian bourses on April 17, but the very next day the energy major regained the top-weighted stock status on the BSE benchmark index Sensex, pushing the FMCG giant down to the second slot.
From April 19 till April 30, ITC remained the most influential stock on both Sensex and Nifty, pushing Reliance Industries Ltd (RIL) to second position.
In terms of market capitalisation, RIL remains the second most valued company. TCS is the most valued company as it commanded m-cap of Rs 2,42,783 crore, while RIL's worth is at Rs 2,31,248 crore.
Meanwhile, in the broader market the BSE benchmark Sensex ended at 16,312.15, down 126.43 points.