ITC becomes most influential stock on Sensex
FMCG major ITC again became the BSE benchmark Sensex's most influential stock today, pushing energy giant Reliance Industries to the second place.
RIL had dethroned ITC from the top position last Tuesday. However, its leadership proved to be short-lived and it slipped to the second spot following decline in its share price.
At the close of the trade, ITC commanded a weight of 9.29% in Sensex, while RIL's weightage stood at 9.21%, followed by Infosys (8.39% weight).
Shares of ITC ended 0.08% down, while RIL lost 1.08% on the BSE.
ITC had first replaced RIL as the most influential stock 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.
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.
Since then, a game of sea-saw is being played between the two companies for the top place.
In terms of market capitalisation, RIL remains the second most-valued company. TCS is the country's most valued company with an m-cap of Rs 2,41,990 crore, while RIL had a value of Rs 2,36,258 crore.
Meanwhile, Sensex fell 50.86 points to close the trade at 16,668.01.