Although Nifty has witnessed significant volatility over the past quarter, it has recovered considerably from March 2020 lows and has managed to reclaim the psychological levels of 10,000.

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The past three months also witnessed fluctuations in the top 10 weighted stocks of the index. Nirmal Bang highlighted these changes in a recent report along with the shifts in sectoral weights.

Of the top 10 stocks, only 3 saw an increase in weightage - RIL, HDFC Bank and Bharti Airtel, stated the report.

Reliance Industries continued to claim the top weightage in Nifty and increase its weight steadily in the index. The weight of the stock in Nifty rose from 10 percent in March 2020 to 12.45 percent in June 2020, it added.

As per the report, telecom major Bharti Airtel's weight also rose from 2.75 percent to 3.1 percent in this quarter and HDFC Bank's weight also increased a bit, from 10.4 percent to 10.6 percent in Q1.

Meanwhile, stocks like HDFC, Infosys, ICICI Bank and ITC saw a sizeable reduction in their weightage over the past quarter, it further noted.

HDFC also lost nearly 1 percentage points weight in this quarter, down from 7.88 percent in March to 6.99 percent in June.

Infosys' weight fell from 6.56 percent to 6.2 percent and ICICI Bank's weight declined from 5.85 percent to 5.22 percent. ITC also lost its weight in the index from 4.18 percent to 3.92 percent in Q1.

TCS, Kotak Bank and HUL also witnessed a decline in their weightage in the index.

Among sectors, the brokerage said that inspite of increasing its weightage in the month of June, the weight of the banking and financial sector continues to be lower than its 6-month average.

Weights of sectors like Oil & Gas, Auto and Telecom have steadily increased over the past quarter while the overall weightage of the IT pack has decreased during the same period, Nirmal Bang said.