 "5 bluechip cos lose Rs 20,000 cr; SBI leads decline on Kingfisher concerns")
The combined market valuation of five of top 10 bluechip companies eroded by Rs 20,409.84 crore as the market fell by over 2 percent last week.
The country’s largest lender SBI suffered the most as its market capitalisation (m-cap) dropped by Rs 13,332 crore to Rs 1,40,131 crore.
Shares of the company plunged by over 8 percent in the week on concerns over its exposure to Kingfisher Airlines and reports of public sector lender giving fresh loans to the debt-ridden carrier.
[caption id=“attachment_226011” align=“alignleft” width=“380” caption=“Shares of the company plunged by over 8 percent in the week on concerns over its exposure to Kingfisher Airlines. Reuters”]  [/caption]
State-run NTPC ’s m-cap also dipped by Rs 3,422 crore to Rs 1,51,304 crore, while Bharti Airtel’s worth declined by Rs 2,753 crore to Rs 1,29,989 crore last week.
HDFC Bank saw an erosion of Rs 712.84 crore from its value which was at Rs 1,22,755.16 crore, while IT major Infosys lost Rs 190 crore from its m-cap which stood at Rs 1,69,239 crore at close on last Friday.
In contrast, corporate leader Reliance Industries, IT bellwether TCS, state-owned ONGC, Coal India and FMCG giant ITC reported gains in market value.
Market worth of Reliance Industries surged by Rs 802 crore to Rs 2,68,625 crore, while TCS added Rs 7,917 crore to its m-cap which stood at Rs 2,48,400 crore as on Friday last week.
ONGC ’s wealth went up by Rs 2,524 crore to Rs 2,43,189 crore, while CIL added Rs 1,516 crore taking its valuation to Rs 2,06,703 crore and ITC’s value climbed Rs 3,237 crore to Rs 1,63,375 crore.
In the broader market, the BSE barometer Sensex fell by about 2% to end the week at 17,923.57 points.
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