In line with an overall weak trend in equities, the combined market valuation of top nine Sensex companies dropped sharply by Rs 83,209 crore last week, with IT major TCS taking the biggest hit. Barring Coal India , the rest of nine companies suffered erosion in their market capitalisation (m-cap) for the week ended Friday (March 13, 2015). The benchmark S&P BSE Sensex concluded the week at 28,503.30, reflecting a sharp fall of 945.65 points, or 3.21 per cent.
This is the biggest weekly fall since mid-December, when it had plummeted by 1,107.42 points, or 3.89 percent. The m-cap of TCS plunged Rs 22,584.13 crore to Rs 5,05,557.49 crore, the most among the top-10 firms. RIL ‘s valuation dipped by Rs 11,067.28 crore to Rs 2,75,081.98 crore and HDFC Bank lost Rs 10,572.37 crore to Rs 2,61,265.37 crore.
The market cap of HDFC tanked Rs 9,587.97 crore to Rs 2,08,926.07 crore and SBI suffered a loss of Rs 9,556.14 crore to Rs 2,09,675.05 crore. ITC’s market value tumbled Rs 5,483.82 crore to Rs 2,71,469.40 crore and that of Sun Pharma diminished by Rs 5,219.18 crore to Rs 2,09,626.80 crore. Similarly, the m-cap of ONGC fell by Rs 5,090.51 crore to Rs 2,68,514.06 crore and Infosys ‘ valuation went down by Rs 4,048.36 crore to Rs 2,54,553.15 crore.
On the other hand, CIL added Rs 473.73 crore to Rs 2,30,357.81 crore in its market cap. In the ranking of top 10 most valued Indian firms in terms of market value, TCS retained its numro-uno position, followed by RIL, ITC , ONGC, HDFC Bank, Infosys, CIL, SBI, Sun Pharma and HDFC.