Mumbai: The market capitalisation (m-cap) of eight of the country’s top-10 firms declined by Rs43,385.50 crore during the past week, with state-run energy explorer ONGC losing the most.
Oil and Natural Gas Corp (ONGC) witnessed an erosion of Rs17,132.35 crore from its market valuation which stood at Rs2,37,457.35 crore as on Friday’s trade on the Bombay Stock Exchange (BSE).
Country’s most-valued corporate firm, Reliance Industries’ m-cap also diminished by Rs2,913.02 crore during this period. The m-cap of RIL stood at Rs2,98,043.93 crore as on Friday.
Two of the country’s biggest IT firms—Tata Consultancy Services (TCS) and Infosys Technologies—shed a total of Rs11,818.88 crore from their combined valuations. The m-cap of TCS stood at Rs2,13,217.37 crore, while that of Infosys was at Rs1,74,566.93 crore.
State-owned mining entity Coal India too suffered a loss of Rs2,558.13 crore from its kitty taking its m-cap to Rs1,91,985.76 crore.
The country’s largest lender State Bank of India eroded Rs3,940.11 crore from its m-cap which stood at Rs1,64,122.69 crore.
Similarly, power producer NTPC saw its market worth slipping by Rs371.05 crore to Rs1,45,367.46 crore.
Telecom major Bharti Airtel was another loser whose market-cap fell by Rs4,651.96 crore to Rs1,21,349.75 crore.
Meanwhile, defying the sluggish broader market sentiment, tobacco giant and FMCG major ITC and leading private lender ICICI Bank displayed a good show during the previous week, with the former gaining Rs1,813.61 crore, and the latter Rs595.84 crore to their respective valuations.
The m-cap of ITC stood at Rs1,19,814.19 crore, while that of ICICI was at Rs1,15,061.8 crore.
Meanwhile, the BSE benchmark index Sensex fell by 1.55% or 279.54 points during the week to settle at 17,728.61.