TCS, 5 Other Sensex Firms Lose Rs 62,808 Cr In Market Value


NEW DELHI: Led by software major Tata Consultancy Services (TCS), six out of top 10 Sensex companies lost a total of Rs 62,808 crore in market valuation in the week to July 10 as a sharp correction in Chinese stocks and worries over Greece debt crisis kept domestic markets on the edge.

Reliance Industries Ltd (RIL), Oil & Natural Gas Corporation (ONGC), ITC, Infosys and HDFC were among the losers last week, while HDFC Bank, Coal India Ltd (CIL), Sun Pharmaceutical Industries and State Bank of India (SBI) made gains in market valuations.

Among the top 10 Sensex companies, the market valuation of TCS plunged the most by Rs 26,031.49 crore to Rs 4,84,177.97 crore during the week.

The M-Cap of ONGC dipped by Rs 13,303.78 crore to Rs 2,51,403.08 crore while that of Infosys tanked by Rs 12,162.32 crore to Rs 2,15,223.72 crore.

The valuation of HDFC tumbled by Rs 5,178.8 crore to Rs 2,02,233.89 crore and ITC lost Rs 4,448.61 crore in market capitalisation, taking its M-Cap to Rs 2,48,441.03 crore.

RIL's market cap went down by Rs 1,682.95 crore to Rs 3,24,145.46 crore.

In contrast, Sun Pharmaceutical added Rs 7,315.35 crore to Rs 2,16,909.61 crore in M-Cap.

HDFC Bank's valuation jumped by Rs 4,520.62 crore to Rs 2,74,364.25 crore while that of CIL rose by Rs 1,579.09 crore to Rs 2,65,066.23 crore.

The M-Cap of SBI jumped by Rs 1,248.42 crore to Rs 2,04,665.92 crore.

In the ranking of top 10 firms, TCS stood at the top position, followed by RIL, HDFC Bank, CIL, ONGC, ITC, Sun Pharma, Infosys, SBI and HDFC.

The Sensex fell by 431.39 points to end at 27,661.40 during the week.

A sharp downward correction in Chinese stocks and uncertainties involving Greece kept Indian markets on the edge.

The key indices of Sensex and Nifty settled below the psychologically significant 28,000 and 8,400 levels respectively, reversing three weeks of gains.

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Source: PTI