Four of the 10 most valued Indian companies together lost Rs 40,779.97 crore in market valuation last week, led by IT major TCS.
While TCS, ITC, HDFC and CIL saw losses in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, Infosys, ONGC, SBI and HUL on the other hand made gains.
However, the cumulative gains of these six companies at Rs 35,716.85 crore was less than the total loss seen by the four firms — TCS, ITC, HDFC and CIL.
The market valuation of TCS plummeted by Rs 31,723.89 crore to Rs 4,63,543.17 crore, taking the steepest hit among the top-10 firms.
TCS’s scrip on Thursday plunged over 5 per cent, knocking Rs 24,797 crore off its market valuation, as the company has warned that its financial sector clients in the US are holding back on discretionary spends, leading to a “sequential loss of momentum”.
ITC’s mcap plunged Rs 4,537.36 crore to Rs 3,13,017.10 crore and that of HDFC declined Rs 4,297.64 crore to Rs 2,23,327.02 crore.
The valuation of CIL fell by Rs 221.08 crore to Rs 2,09,798.04 crore.
In contrast, ONGC’s mcap surged Rs 13,303.79 crore to Rs 2,17,651.67 crore and that of RIL jumped Rs 10,004.97 crore to Rs 3,38,482.84 crore.
The valuation of SBI soared Rs 7,491.08 crore to Rs 2,04,937.31 crore and HUL added Rs 2,229.2 crore to Rs 2,01,309.87 crore.
HDFC Bank’s mcap rose by Rs 1,550.82 crore to Rs 3,28,100.32 crore and of Infosys went up by Rs 1,136.99 crore to Rs 2,37,963.47 crore.
In the ranking of top-10 firms, TCS continued to remain at number one position followed by RIL, HDFC Bank, ITC, Infosys, HDFC, ONGC, CIL, SBI and HUL.
Over the last week, the Sensex climbed 265.14 points or 0.92 per cent and the NSE Nifty rose 57.05 points or 0.64 per cent. Both indices recorded second weekly gains.