Comments
Shares of FMCG major ITC on Thursday slumped nearly 4 per cent after its weight was reduced in FTSE global equity index series.
Following the news, shares of the company fell by 4.39 per cent to Rs 292.40 during the day on the BSE. The scrip finally ended at Rs 295, down 3.55 per cent.
ITC is the most influential stock in 30—share Sensex and decline in the scrip was significant in pulling down the benchmark index by 126 points to 19,229.26.
At NSE, the stock ended at Rs 294.95, down 3.60 per cent from its previous close.
“FMCG major ITC traded lower after the news of weight reduction by the global index provider FTSE,” Alex Mathews, Head Research, Geojit BNP Paribas Financial Services said.
Global index provider FTSE has lowered the weightage of ITC in its global equity index series from 75 per cent to 24 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.