7 among top 10 companies lose Rs 44,928 crore in m-cap; SBI worst-hit
Seven of the 10 most valued companies took a combined hit of Rs 44,928 crore in their market valuation last week, with State Bank of India (SBI) reporting maximum losses, even as the benchmark Sensex lost 1.69%.
SBI, ONGC, HDFC, HUL, Infosys, CIL and ITC witnessed a decline in their market capitalisation (mcap) totalling Rs 44,927.73 crore, while TCS, HDFC Bank and RIL raked up gains, during the week ended December 23, aggregating Rs 3,257.36 crore.
The market capitalisation of SBI was hit the most as it fell by Rs 12,032.91 crore to Rs 1,93,487.22 crore, while the market valuation of ONGC plummeted by Rs 11,288.79 crore to Rs 2,47,557.66 crore.
Market valuation of HDFC tanked by Rs 7,155.85 crore to Rs 1,94,181.92 crore, while HUL valuation plunged Rs 5,704.93 crore to Rs 1,71,183.31 crore, and Infosys by Rs 3,421.97 crore to Rs 2,27,236.74 crore.
Coal India Ltd (CIL) saw an erosion of Rs 3,202.04 crore in its m-cap, following which it stood at Rs 1,78,835.46 crore, while ITC dipped by Rs 2,121.24 crore to stand at Rs 2,72,443.77 crore.
"Since the market started on a weak note as the investor was mostly cautious before the Bank of Japan (BOJ) policy rate decision, no strength was visible at any point of the week," Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd said.
Defying the broader market trend, TCS added Rs 1,671.39 crore to its market capitalisation to soar to Rs 4,51,267.41 crore, while HDFC Bank saw its market worth rising by Rs 1,391.08 crore to Rs 3,02,900.38 crore.
The m-cap of RIL improved by Rs 194.89 crore to Rs 3,43,220.75 crore.
In terms of ranking of the top 10 firms, TCS retained its numero uno status followed by HDFC Bank, RIL, ITC, CIL, Infosys, HUL, HDFC, ONGC and SBI.
For the week, the Sensex lost 448.86 points, or 1.69%, while the broader NSE Nifty dropped 153.70 points, or 1.88%. This is their biggest drop in five weeks since November 18.