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Our Bureau

Chennai April 30 Higher weightage of ICICI Bank in Sensex dragged the BSE benchmark into negative territory whereas the NSE's S&P CNX Nifty managed to end in positive territory owing to the bank's relatively lesser weightage.

After today's fall of about seven per cent, the ICICI Bank's weightage in Sensex dropped to 8.78 per cent against Friday's weightage of 9.44 per cent. In Nifty, its weightage declined to 3.72 per cent (4.02 per cent). While today's drop did not alter its status in the Sensex at third spot, in the Nifty, it lost its seventh spot to Wipro.

The top five Sensex constituents are: Reliance Industries (12.31%), Infosys Technologies (11.14%), ICICI Bank (8.77%), Bharti Airtel (6.1%) and Larsen & Toubro (4.85%). The top five Nifty constituents are: Reliance Industries (10.38%), ONGC (9.32%), Bharti Airtel (7.34%), Tata Consultancy Services (5.91%) and Infosys Technologies (5.59%).

Sensex is calculated using the free-float market capitalisation methodology. The market capitalisation of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalisation is further multiplied by the free-float factor to determine the free-float market capitalisation.

On the other hand, the Nifty is computed using a market capitalisation weighted methodology, wherein the level of index reflects the total market value of all stocks. It is being calculated by dividing the total market capitalisation of the index component securities as of current date by the total market capitalisation of the same securities as of initial date multiplied by the index value as of initial date.

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