ICICI Bank has overtaken Reliance Industries in the Nifty 50 index, becoming the second-largest stock by weightage, despite having a smaller overall market capitalisation.
This shift highlights the importance of free-float market capitalisation in determining index weightage.
In the latest Nifty 50 index update, ICICI Bank has risen to the second position in terms of weightage. The bank boasts a total market capitalisation exceeding ₹9,09,000 crore, with a free-float market capitalisation of ₹9,05,000 crore on the NSE.
This figure surpasses Reliance Industries' free-float market capitalisation, putting ICICI Bank ahead in the index.
Despite being India's largest company by total market capitalisation, Reliance Industries has slipped to the third position in terms of weightage in the Nifty 50 index.
The company's total market capitalisation is around ₹17,14,000 crore, but its free-float market capitalisation is just over ₹8,52,000 crore. Consequently, Reliance Industries now holds an 8.27% weight in the Nifty 50.
Free-float market capitalisation reflects the value of shares available for public trading, excluding promoter holdings and locked-in shares.
This measure, which usually results in a lower figure than full market capitalisation, is widely adopted by major indices for accurate constituent weightages.
Read More: Domestic Institutional Investors Inject Over ₹4 Lakh Crore into Indian Equities in First 5 Months of 2026!
Among the leading stocks in the Nifty 50 index, HDFC Bank retains the highest weightage at 10.56%, followed by ICICI Bank at 8.78%, and Reliance Industries at 8.27%. Other significant constituents include Bharti Airtel (5.20%), Larsen & Toubro (4.43%), and Infosys (3.77%).
The reshuffle in the Nifty 50 index underscores the pivotal role of free-float market capitalisation in determining stock weightages. ICICI Bank's ascendancy over Reliance Industries in the index reflects these dynamics, with free-float market capitalisation proving crucial in this realignment.
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Published on: Jun 9, 2026, 12:59 PM IST
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