Mumbai: Reliance Industries on Tuesday reclaimed its position as the most influential stock on the BSE benchmark index Sensex, pushing FMCG major ITC to the second slot.
ITC had dethroned Reliance Industries (RIL) from the top position on Monday. However, its leadership position proved to be short-lived and it slipped to the second position in Tuesday's trading session.
At close on Tuesday, 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 9.20 per cent, while ITC has 8.97 per cent weight, followed by Infosys which commanded a weight of 8.41 per cent on Sensex.
Shares of RIL closed 0.93 per cent lower at Rs 708.65, while ITC was down 3.97 per cent to Rs 227.30 on the BSE.
Since the last few days, a veritable game of musical chairs has been played out between RIL and ITC for the top position on the bourses.
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.
RIL, however, remains the second most valued company in terms of market capitalisation. TCS is the most valued company as it commanded m-cap of Rs 2,34,935 crore, while RIL's worth is at Rs 2,32,051 crore.
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