Infosys close to getting biggest weightage in Sensex

Is only 15 basis points away from ITC

Infosys Ltd is poised to overtake ITC Ltd as the stock with biggest weighting in the benchmark BSE Sensex and broader Nifty.

Infosys' weighting in the BSE Sensex currently stands at 9.70%, only 15 basis points away from 9.85% for ITC, Thomson Reuters Data shows.

In the Nifty, Infosys' weighting stands at 8.41% compared with 8.58% for ITC.

Software exporter Infosys shares rose 16.4% in the last three months on rupee depreciation and hopes of higher business from the United States, while ITC Ltd , a bet on domestic consumption, fell 11.7% in the same period on valuations and a slowing economy.

 

Infosys overtook Reliance Industries Ltd as the stock with second-biggest weighting in the benchmark index in October.

Infosys shares were up 1.2% after earlier touching a record high of Rs 3,557.60.