RIL most influential in Sensex after ITC tanks nearly 4%

Energy giant Reliance Industries today reclaimed its position as the most influential stock on the BSE benchmark index Sensex, pushing FMCG major ITC to the second slot.

At closing today, RIL regained the top slot in terms of Sensex weight, 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 commanded a weight of 9.7%, while ITC has 9.46% weight on the Sensex.

Shares of RIL closed 2.04% higher at Rs 815.05, while ITC was down 3.59% at Rs 258.15.

ITC shares dropped amid reports that Australia's tough new anti-tobacco marketing laws, which among others ban logos on cigarette packs, may see similar action in India as well.

Meanwhile, Goldman Sachs in a report said that RIL can potentially become a USD 100 billion company by 2017 from its current market capitalisation (m-cap) of less than USD 47 billion.

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.

RIL also remains the country's most valued company in terms of market capitalisation. RIL commands a market value of Rs 2,63,778 crore, while ITC's worth is at Rs 2,02,210 crore.