Weakness in the stock market resulted in six of the top 10 most valued companies losing Rs 54,053 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit.
While TCS, ONGC, Reliance Industries Ltd (RIL), Infosys, State Bank of India (SBI) and HDFC Bank saw a decline in their market capitalisation (M-Cap) for the week ended December 5, ITC, Coal India Ltd (CIL), ICICI Bank and Hindustan Unilever Limited (HUL) made gains.
The M-Cap of TCS tumbled by Rs 12,663.17 crore to reach Rs 5,05,048.22 crore. Rival Infosys’ valuation plunged by Rs 12,624.58 crore, to Rs 2,37,699.32 crore.
ONGC’s market cap tanked by Rs 11,678.24 crore and was at Rs 3,13,002.61 crore, while RIL lost Rs 10,698.27 crore in market value, taking its M-Cap to Rs 3,09,822.54 crore.
Similarly, HDFC Bank’s valuation dipped by Rs 3,551.75 crore to Rs 2,27,771.10 crore while SBI lost Rs 2,836.98 crore in M-Cap to Rs 2,37,148.94 crore.
On the other hand, the M-Cap of ITC surged by Rs 22,722.38 crore to Rs 3,12,642.30 crore while that oof HUL gained by Rs 7,218.56 crore to Rs 1,77,371.56 crore.
ICICI Bank’s valuation rose by Rs 4,979.57 crore to reach Rs 2,08,109.93 crore while CIL added Rs 1,073.78 crore in its market valuation, taking its M-Cap to Rs 2,25,146.81 crore.
In the ranking of top 10 firms, TCS stood at the top, followed by ONGC, ITC, RIL, Infosys, SBI, HDFC Bank, CIL, ICICI Bank and HUL.
Over the past week, the BSE benchmark Sensex fell by 235.89 points, or 0.82 per cent, to conclude at 28,458.10.