The combined market value of top seven Sensex companies dropped Rs 14,931 crore last week, with software major TCS taking the biggest hit of Rs 5,207 crore.
While ONGC, TCS, ITC, SBI, HDFC Bank, NTPC and Infosys saw erosion in their market value, RIL, Coal India and Bharti Airtel made gains in a flat stock market, where the BSE Sensex fell by 0.32 per cent to 17,158.44.
The market capitalisation (m-cap) of TCS fell by Rs 5,207 crore to Rs 2,39,377 crore. Following the plunge in its market value, the company also lost its coveted status as the country’s most valued company to energy major ONGC on Tuesday.
After ONGC, SBI was the second biggest loser as it shed Rs 3,003 crore from its m-cap which was Rs 1,43,237 crore on Friday.
NTPC also saw an erosion of Rs 2,845 crore from its m-cap which was Rs 1,28,505 crore, ONGC’ value declined Rs 1,797 crore to Rs 2,41,820 crore, HDFC Bank lost Rs 906 crore to Rs 1,37,260 crore.
The market value of ITC fell by Rs 587 crore to Rs 1,97,727 crore, while that of Infosys slipped Rs 586 crore to Rs 1,27,341 crore.
In contrast, RIL’s value rose by Rs 1,277 crore to Rs 2,36,635 crore, while CIL added Rs 4,359 crore to its m-cap which was Rs 2,27,989 crore and Bharti’s worth advanced Rs 2,450 crore to Rs 1,19,337 crore.
ONGC toppled TCS to grab the number one position in the list of top 10 companies. TCS was at second place, followed by RIL, CIL, ITC, SBI, HDFC Bank, NTPC, Infosys and Bharti.