Mumbai: FMCG major ITC on October 17 became the most influential stock on BSE benchmark Sensex, pushing energy giant Reliance IndustriesBSE -0.35 percent to the second spot.

At the end of  October 17 trade, ITC commanded 10.01 percent weight, while RILBSE -0.35  percent had 9.07 percent weight, followed by ICICI BankBSE 0.95 percent which had 7.66 percent weight in 30-share Sensex.

A stock's weight in Sensex is measured by the value of a company's free-float or non-promoter shares that can be freely traded in the market.

Shares of ITC settled 0.81 percent higher at 287.60 on the BSE, while RIL fell by 0.97 percent to 805.40.

RIL shares have been under pressure since last three days as weak quarterly earnings remained a worry, said analysts.

Reliance Industries Ltd (RIL) on October 15 reported its fourth consecutive drop in quarterly net profit, hurt by weak demand and lower natural gas output, but sequentially its earnings had rebounded. RIL's July-September net profit at 5,376 crore, fell 5.7 percent from 5,703 crore in the previous year.

Meanwhile, ITC had first replaced RIL as the most influential stock on Indian bourses on April 17, but the very next day the energy major regained the top-weighted stock status on the BSE benchmark index Sensex, pushing the FMCG giant down to the second slot.

In terms of market valuation, RIL remains the most valued company in the country with a m-cap of 2,60,589 crore, while ITC's is valued at 2,25,947 crore.