The Hindu Business Line : Blue chips lose ‘weight’ in Sensex

The pecking order of blue chips in the Sensex has undergone a change with some of the heavyweights losing their market capitalisation and weightage in the benchmark index in the last one month.

ICICI Bank which was No 3 in the index in terms of weightage in the 30-scrip index fell to No 7 with its market cap falling by 44.23 per cent and weightage tumbling to 5.47 per cent from 7.55 per cent.

DLF Ltd came down to 28 in the index from 23 as its weightage shrunk to 0.97 per cent from 1.24 per cent. Market cap of the company fell nearly 40 per cent.

Tata Steel’s weightage reduced to 1.99 per cent from 2.65 and the scrip is now two notches down in the index at 14. Its market cap dropped 45 per cent.

Jaiprakash Associates, which is at the bottom of the list, lost its weightage to 0.72 per cent from 1.14 per cent. Market cap of the company fell by 51.67 per cent.

Larsen and Toubro climbed up to the number three position in the index replacing ICICI Bank.

Reliance Industries continues to hold the number one position, with its weightage gaining marginally to 14.98 per cent. Infosys has retained its number two position, though its weightage fell marginally to 8.05 per cent from 8.29 per cent.

Sensex fell by 28.19 per cent to 10,527.85 from 14,662.6 in the last one month.

The Sensex from its peak of 21,000, which it touched in January 2008, dropped by nearly 50 per cent to 10,200 on Friday. The total market capitalisation dropped to Rs 15,78,376 crore as on Friday. All the companies in the index have lost between 20 and 80 per cent of their market caps.

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