It was Infosys' day as the country's most influential stock today, as the IT giant yet again snatched the top-slot from Mukesh Ambani-led Reliance Industries (RIL) in a continuing game of musical chairs.
In the past seven trading sessions, Infosys has now thrice toppled RIL as the country's most influential stock, measured in terms of weightage on the stock market's barometer index Sensex, while polyster-to-energy-to-retail conglomerate has bounced back to the top position twice.
At the end of today's trade, Infosys was ranked on the top with a Sensex weightage of 10.47%, followed by RIL's 10.33%.
Infosys has toppled RIL from its long-held top position for the first time on December 12 and retained its leadership tag for three sessions. While RIL regained the top position on December 15, it again slipped below Infosys to second position just a day later on December 16.
However, RIL bounced back in the next trading session on December 19, but slipped below Infosys again today.
Measured in terms of free-float market capitalisation, or the market value of non-promoter shares that are freely available for trading, the Sensex weightage of the companies present on the 30-share index changes on a daily basis.
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At the NSE's Nifty index, another barometer of the Indian stock market, Infosys has, however, managed to retain its top position continuously since it dislodged RIL.
Infosys commanded a Nifty weightage of 9.32%, as against RIL's 8.72%, at the end of today's trade. The weightage of different stocks differ on the two indices, as the Nifty comprises of a total of 50 stocks as against 30 for the Sensex.
In terms of total market valuation, including the value of promoter shares, RIL continues to retain the top slot of the country's most valued company (Rs 233,648.53 crore), while Infosys ranks fifth (Rs 153,160.06 crore).
However, Infosys' free-float market value was better at Rs 130,186.05 crore, than RIL's 128,506.69 crore.
RIL shares today plunged 3.03% on the BSE, underperforming the an overall downtrend of 1.33% in the market, while the Infosys performed relatively better with a modest 0.25% decline.
Overall, RIL shares have been mostly underperforming the Sensex since the beginning of this year, whereas Infosys shares have performed relatively much better.
As a result, Infosys managed to dethrone RIL from its long-held position as the most influential Sensex stock earlier on December 12.