Six of top 10 companies take Rs 38,221 crore hit in mcap; CIL loses most
Six of 10 most valued companies took a combined hit of Rs 38,221 crore in their market valuation last week, with Coal India Ltd (CIL) bringing up the maximum losses, as the benchmark Sensex lost nearly 1%.
While, ONGC, SBI, ITC, HUL, CIL and HDFC Bank witnessed a decline in their market capitalisation totaling Rs 38,221.15 crore, TCS, RIL, Infosys and HDFC raked up gains, during the week ended December 16, aggregating Rs 31,887.84 crore.
The market capitalisation (mcap) of CIL was hit the most as it fell by Rs 12,001.08 crore to Rs 1,82,037.5 crore, while the market valuation of ITC plummeted by Rs 11,210.44 crore to Rs 2,74,565.01 crore.
Market valuation of Hindustan Unilever Ltd (HUL) tanked by Rs 5,951.82 crore to Rs 1,76,888.24 crore, while HDFC Bank's valuation plunged Rs 4,365.63 crore to Rs 3,01,509.3 crore, and that of ONGC by Rs 3,721.85 crore to Rs 2,58,846.45 crore.
SBI saw an erosion of Rs 970.35 crore in its mcap, following which it stood at Rs 2,05,520.13 crore.
"Overall, market sentiments were negative for the full week coupled with many global as well as local events," Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments said.
Defying the broader market trend, TCS added Rs 17,398.63 crore to its market capitalisation to Rs 4,49,596.02 crore, while RIL saw its market worth rising by Rs 10,103.78 crore to Rs 3,43,025.86 crore.
The mcap of Infosys improved by Rs 3,870.34 crore to Rs 2,30,658.71 crore and HDFC's valuations rose by Rs 515.09 crore to Rs 2,01,337.77 crore.
In terms of ranking of the top 10 firms, TCS retained its numero uno status followed by RIL, HDFC Bank, ITC, ONGC, Infosys, SBI, HDFC, CIL and HUL.
For the week, the Sensex lost 257.62 points, or 0.96%, and the NSE Nifty 122.30 points, or 1.48%. The weekly decline is the biggest since November 18, when the Sensex registered a fall of 668.58 points and the Nifty 222.20 points.