Infosys close to getting biggest weighting in Sensex

Reuters Market Eye - 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 percent, only 15 basis points away from 9.85 percent for ITC, Thomson Reuters Data shows.

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

Software exporter Infosys shares rose 16.4 percent 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 percent 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 percent after earlier touching a record high of 3,557.60 rupees.

(Reporting by Abhishek Vishnoi)