Sensex's changing composition: IT, banking take reins from manufacturing to drive rally
In 1986, the dominance of industrial stocks was strong, representing 33% of the constituents, while consumer discretionary stocks comprised 30%. There were no stocks from banking or information technology sectors — the current giants.
The composition of the has undergone multiple changes over the decades with services sectors dominating manufacturing-linked ones in this period.In 1986, the dominance of industrial stocks was strong, representing 33% of the constituents, while consumer discretionary stocks comprised 30%. There were no stocks from or information technology sectors — the current giants.
At present, the weight of these two sectors collectively is more than 53% of the index. Banks and finance companies have 37% weight in Sensex followed by at 15%, oil and gas at 12%, and FMCG at 8%.
Source: Stocks-Markets-Economic Times
