$ICICIBANK Overtakes $RELIANCE in Nifty 50 Weightage

Despite having a significantly smaller total market capitalization than $RELIANCE (RIL), $ICICIBANK has overtaken it to become the second-largest weighted stock in the benchmark Nifty 50 index. The Free-Float Factor: This shift occurred because the Nifty 50 index uses a free-float market capitalization methodology, which only calculates the value of shares actively available for trading in the open market rather than total outstanding shares. The Math Behind It: While RIL commands a massive total market cap of nearly ₹17.14 lakh crore, its high promoter/strategic holdings leave it with a free-float market cap of just over ₹8.52 lakh crore (giving it an 8.27% index weight). In contrast, ICICI Bank boasts a free-float market cap of ₹9.05 lakh crore out of its ₹9.09 lakh crore total value. Top of the Leaderboard: HDFC Bank continues to hold the undisputed crown as the highest-weighted stock in the Nifty 50 index, maintaining a dominant 10.56% weightage backed by a ₹11.24 lakh crore free-float market cap. Index Composition: The remaining top ten slots of the index feature prominent players across banking, telecom, and infrastructure, including Bharti Airtel (5.20%), Larsen & Toubro (4.43%), Infosys (3.77%), and State Bank of India (3.71%).