Nine of Top 10 Firms Lose 78,511 Crore in Market Capitalization

NEW DELHI: Overall weakness in the equity market dragged down the combined market valuation of nine of the top-10 most valued Indian companies by a whopping 78,511.56 crore last week.

Reliance Industries, was the only stock which defied the broader market trend and added to its market capitalisation; the rest nine companies saw erosion in m-cap for the week ended Friday (January 8).

The valuation of RIL climbed  2,818.11 crore  to 3,31,711.42 crore, even as the benchmark BSE Sensex tumbled by  1,226.57 points or 4.68 percent on a weekly basis amid concerns over the health of Chinese economy and geopolitical tensions between Saudi Arabia and Iran.

The m-cap of TCS plunged by 3,743.81 crore to 4,72,360.84 crore.

ONGC's valuation tumbled 11,250.47 crore to 1,96,134.61 crore and that of Sun Pharma plunged by 5,475.03 crore to 1,90,843.87 crore.

The m-cap of Infosys dropped by 9,302.63 crore to 2,44,084.82 crore and HDFC Bank lost 6,767.23 crore to 2,68,113.68 crore.

ITC's valuation tanked by 11,211.18 crore to 2,51,829.69 crore and HDFC lost 12,961.35 crore to 1,85,532 crore.

Similarly, CIL took a hit of 8,116.53 crore to 2,02,786.88 crore and HUL saw its m-cap tumble by 9,683.33 crore to 1,75,663.03 crore.

The ranking at the end of the remained as TCS, Reliance, HDFC Bank, ITC, Infosys, Coal India, ONGC, Sun Pharma, HDFC and HUL.

Read More: India to Remain Bright Spot of Global Economy: World Bank
Call Drops: TRAI To Conduct Test In Seven Cities To Assess The Quality Of Service