Seven of the top-10 most valued companies of the country saw a cumulative loss of Rs 30,797 crore in market valuation, with state-run energy major ONGC taking the biggest hit.
Seven of the top-10 most valued companies of the country saw a cumulative loss of Rs 30,797 crore in market valuation, with state-run energy major ONGC taking the biggest hit. In contrast, TCS, ITC and Coal India witnessed addition in their market capitalisation (m-cap) in the week gone by. The m-cap of ONGC tumbled Rs 7,315 crore to Rs 2,84,427 crore, the maximum loss suffered by any company in the domestic market-cap chart.
After ONGC, SBI took the second biggest hit in market value which plunged Rs 6,935 crore to Rs 1,61,715 crore. Among others, RIL's value slipped Rs 5,970 crore to Rs 2,89,078 crore, while HDFC Bank lost Rs 5,762 crore to Rs 1,51,493 crore. Infosys saw its m-cap plummet by Rs 2,510 crore to Rs 1,59,117 crore, while NTPC lost Rs 2,103 crore to Rs 1,29,247 crore and ICICI Bank Rs 202 lost crore to Rs 1,35,054 crore. On the other hand, CIL's m-cap soared Rs 9,190 crore to Rs 2,24,704 crore, while ITC added Rs 7,641 crore to Rs 2,43,556 crore. TCS saw its value swell by Rs 1,683 crore to Rs 2,63,520 crore.
The stock market benchmark Sensex fell by 322.34 points to end the week at 19,781.19. RIL continued to remain at the number one position in the m-cap list, followed by ONGC. ONGC, however for a brief period had replaced RIL from the top position on Thursday but the company reclaimed the status the very next day. TCS was at third place, followed by ITC, CIL, SBI, Infosys, HDFC Bank, ICICI Bank and NTPC.