The top 10 most valued companies saw a combined erosion of over Rs 1 lakh crore to their market capitalisation over the past week, amid a steep fall in the broader market.
The benchmark index, Sensex, slipped below the key 28,000 mark and all the top ten most valued companies witnessed a decline in their market worth.
The biggest loser among the bluechip firms was TCS, whose market capitalisation saw an erosion of Rs 18,304.32 crore, following which its M-cap stood at Rs 4,92,855.13 crore.
Apart from TCS, RIL and Coal India witnessed hefty m-cap losses during the week ended March 27, with a combined over Rs 13,000 crore loss in investor wealth.
While RIL saw an erosion of Rs 13,767.85 crore, pursuant to which its m-cap fell to Rs 2,62,656.94 crore, Coal India’s market valuation fell Rs 13,043.29 crore to Rs 2,19,462.08 crore.
Among others in the top five league, ONGC’s market value eroded Rs 6,031.63 crore, following which its m-cap dipped to Rs 2,60,172.45 crore. ITC lost Rs 8,210.22 crore following which its market worth fell to Rs 2,54,172.12 crore.
Besides, HDFC Bank’s m-cap slumped Rs 10,451.4 crore to Rs 2,53,995.7 crore, Infosys lost Rs 6,546.29 crore to Rs 2,52,887.87 crore and Sun Pharma shed Rs 3,406.97 crore to Rs 2,09,316.13 crore.
HDFC’s m-cap slipped Rs 11,930.99 crore to Rs 1,98,686.7 crore and SBI’s market value slid Rs 11,049.28 crore to Rs 1,96,759.34 crore.
TCS retained the number spot in the ranking of the top most valued 10 Sensex companies, followed by Reliance Industries, ONGC, ITC, HDFC Bank, Infosys, Coal India, Sun Pharma, HDFC and State Bank of India.
During the past week, Sensex shed 802.44 points or 2.84 per cent and was quoted at 27,458.64 at the close of market hours on Friday.
Meanwhile, the NSE Nifty, comprising of 50 shares, closed lower by 0.75 points at 8,341.40.