ICICI Bank Closes In on HDFC Bank Nifty Weight Crown
· Business · Economic Times, Bloomberg
ICICI Bank is closing in on HDFC Bank's position as the most influential stock in the Nifty index, with the gap between their weights narrowing to the smallest margin since at least January 2010. According to Nuvama Alternative & Quantitative Research data from August 31, HDFC Bank held a Nifty weight of approximately 9.85%, while ICICI Bank stood at 9.45%. The convergence stems from differing share performances in Mumbai, where HDFC Bank's stock declined about 28% in 2026 while ICICI Bank's weight climbed by 1.4 percentage points. Reliance Industries also lost ground with its weight dropping to 7.8%, though it retains the largest market capitalization among the three at ₹17.7 lakh crore.
Why it matters
The shifting weight distribution among Nifty heavyweights alters index fund allocations and reflects changing market sentiment toward India's top private lenders and Reliance Industries.
Read the original report — Economic Times
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