RIL topples ITC as top Sensex 'heavyweight'
18 January 2013
Reliance Industries Ltd gained further on the Bombay Stock Exchange today after having on Thursday overtaken ITC as the most influential stock on the BSE's benchmark Sensex.
The oil and gas major's shares soared by 3.4 per cent on Thursday, and a further 1 per cent in this morning's trade.
At the end of trade on Thursday, RIL commanded 9.33 per cent weight in the 30-share Sensex, while ITC had 9.27 per cent weight, followed by Infosys with 8.05 per cent.
The RIL counter saw good buying, which experts mainly attributed to the government move to loosen its grip on diesel prices and allow "small" hikes periodically.
Experts said the counter also saw activity ahead of its quarterly earnings announcement due today.
The weight of a stock on the BSE is measured by the value of a company's free-float or non-promoter shares that can be freely traded in the market.