ITC pips RIL to become most influential stock in Sensex

FMCG major ITC today overtook Reliance Industries as the most influential stock on the BSE benchmark Sensex, pushing the energy giant to the second spot.

RIL had dethroned ITC from the top position on Wednesday. However, its leadership proved to be short-lived and it slipped to the second position in Friday’s trade.

At close , ITC commanded a 9.55 percent weightage on the Sensex, while RIL’s weightage stood at 9.19 percent, followed by Infosys (8.7 percent weightage).

 Shares of ITC ended 1.54 percent higher, while RIL was down 3.16 percent in Friday’s trade. 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 most influential status, pushing the FMCG giant down to the second slot.

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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 leader in market value as it commanded m-cap of Rs 2,39,710 crore, while RIL’s m-cap is at Rs 2,23,881 crore based on closing prices today.

Meanwhile, Sensex tumbled 253.37 points lower to close at 15,965.16.

(PTI)