4 hrs ago
ICICI Bank Nears HDFC Bank as Nifty’s Top Influence
The Nifty is an index that tracks important companies.
Each company has a weight showing how much influence it has on the index.
On August 31, HDFC Bank had the biggest weight at 9.85 percent.
ICICI Bank was very close behind at 9.45 percent.
The difference between the two banks was 0.40 percentage points.
ICICI Bank was 1.65 percentage points ahead of Reliance Industries.
The data came from Nuvama and was cited by The Economic Times.
The gap between ICICI Bank and Reliance Industries was the largest recorded since April 2015.
HDFC Bank held a 9.85% weight in the Nifty as of August 31.
ICICI Bank’s Nifty weight stood at 9.45% on the same date.
The gap between HDFC Bank and ICICI Bank was 0.40 percentage points.
ICICI Bank’s lead over Reliance Industries was 1.65 percentage points.
That gap was the widest between ICICI Bank and Reliance Industries since April 2015, according to Nuvama data cited by The Economic Times.
- Who
- HDFC Bank, ICICI Bank, and Reliance Industries.
- What
- ICICI Bank was close to HDFC Bank in Nifty weighting, with weights of 9.45% and 9.85%, respectively.
- Where
- The Nifty index.
- When
- As of August 31; the comparison with Reliance Industries was described as the widest since April 2015.
- Why
- The banks’ Nifty weights were close, making ICICI Bank nearly as influential as HDFC Bank in the index.
Key facts
- HDFC Bank Nifty weight
- 9.85% as of August 31
- ICICI Bank Nifty weight
- 9.45% as of August 31
- Bank weight gap
- HDFC Bank led ICICI Bank by 0.40 percentage points
- ICICI-Reliance gap
- 1.65 percentage points
- Historical comparison
- The ICICI Bank-Reliance Industries gap was the widest since April 2015
- Data source
- Nuvama data cited by The Economic Times
Sources
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