Top nine blue-chip companies of the country saw a cumulative erosion of Rs 35,893 crore from their market value last week, with HDFC Bank and ITC taking the steepest hit.
Amid a weak stock market last week, blue-chips such as TCS, ONGC, RIL, ITC and HDFC Bank saw losses in their market capitalisation (m-cap). Bucking the trend, IT major Infosys witnessed rise in its value.
HDFC Bank’s m-cap dipped by Rs 6,977 crore to Rs 1,51,325 crore, while the value of ITC plunged by Rs 6,756 crore to Rs 2,55,110 crore.
The m-cap of RIL dropped by Rs 5,877 crore to Rs 2,56,936 crore, while TCS lost Rs 5,421 crore to Rs 2,78,424 crore and SBI’s value tanked Rs 3,820 crore to Rs 1,36,150 crore.
ONGC’s market worth slipped by Rs 3,293 crore to Rs 2,63,509 crore, HDFC (Rs 2,045 crore to Rs 1,26,989 crore, CIL (Rs 1,137 crore to Rs 1,88,985 crore) and HUL (Rs 567 crore to Rs 1,27,732 crore).
In contrast, Infosys saw an addition of Rs 1,390 crore to Rs 1,38,916 crore in its m-cap.
In the list of top-10 companies, TCS stood at number one position, followed by ONGC, RIL, ITC, CIL, HDFC Bank, Infosys, SBI, HUL and HDFC.
The BSE benchmark Sensex dropped for a third week in a row, losing 404 points or 2.1 per cent to end the week at 18,774.24.