Mumbai: A whopping Rs73,000 crore was eroded from the market capitalization (m-cap) of seven of the top 10 firms last week and during the period the BSE benchmark Sensex fell below the psychologically crucial 17,000-mark.
However, NMDC, Bharti Airtel and BHEL added Rs23,053.89 crore to their market valuation for the week ended 23 January.
The country’s largest iron ore producer NMDC, which will come out with a follow-on public offer (FPO) to divest 8.3%, was the biggest gainer. It jumped to the third place from fourth in the list of top 10 companies going by their market valution. NMDC added Rs21,429.21 crore to its valuation to end the week at Rs2,11,120.28 crore.
State-run oil firm ONGC saw the biggest fall of Rs21,035.79 crore, bringing its total valuation to Rs2,38,451.92 crore. It reported a 23% jump in third quarter profit at Rs3,053 crore.
Mukesh Ambani-led Reliance Industries (RIL), the biggest company by m-cap, also lost Rs18,421.28 crore. Its valution stood at Rs3,46,126.17 crore at the end of of the week.
The state-run power behemoth NTPC slipped to fourth place from third after losing Rs8,245.46 crore. Trading firm MMTC down by Rs8,733.75 crore is at the fifth place. Its total valuation declined to Rs1,83,461.49 crore.
Another PSU MMTC’s m-cap dipped to Rs1,75,675.25 crore.
Software giants TCS and Infosys Technologies together lost Rs13,053.11 crore.
TCS is at the sixth place with m-cap of Rs1,47,788.17 crore and Infosys with m-cap of Rs1,47,574.71 crore is at seventh place.
Country’s largest public sector lender SBI, eighth in the list, witnessed an erosion of Rs3,415.65 crore, bringing its total valution to Rs1,32,702.62 crore.
Private telecom services provider Bharti Airtel stood at ninth spot with a total valuation of Rs1,21,996.32 crore. It posted 2.3% rise in third quarter profit at Rs2,210 crore.
Power equipment maker BHEL at tenth spot with a m-cap of Rs1,16,123.93 crore. The PSU declared a 35.67% increase in profit at Rs1,072.5 crore for December quarter.
During the past week, the 30-share index Sensex of the Bombay Stock Exchange saw a decline of nearly 4%, or 694.62 points, to close at 16,859.68 points at the end of Friday’s trade.