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 were 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.
TCS’s scrip on Thursday plunged over five 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”.
The M-Cap of ITC plunged by Rs 4,537.36 crore to Rs 3,13,017.10 crore while 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, the M-Cap of ONGC surged by Rs 13,303.79 crore to Rs 2,17,651.67 crore while that of RIL jumped by Rs 10,004.97 crore to Rs 3,38,482.84 crore.
The valuation of SBI soared by Rs 7,491.08 crore to Rs 2,04,937.31 crore.
HUL added Rs 2,229.2 crore to its market value, taking its M-Cap to Rs 2,01,309.87 crore.
The M-Cap of HDFC Bank rose by Rs 1,550.82 crore to Rs 3,28,100.32 crore while that 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 the top position, followed by RIL, HDFC Bank, ITC, Infosys, HDFC, ONGC, CIL, SBI and HUL.
For the week ended September 9, 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 the indices recorded second weekly gains.