Dragged down by ONGC, mkt cap of six blue-chips dips by Rs 54,994 cr

Mumbai: Dragged down by state-owned ONGC, the combined market valuation of top six Sensex companies plummeted by Rs 54,994 crore last week amid an overall weak broader market.

ONGC, Coal India, RIL, SBI, ITC and ICICI Bank saw erosion in their market capitalisation. The gainers were TCS, HDFC, HDFC Bank and Infosys.

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Overall, the BSE 30-stock index, Sensex, fell by 1.49 percent to end the week at 19,484.77.

Energy major ONGC saw the steepest fall of Rs. 16,256 crore from its market value which came down to Rs. 2,68,171 crore. Its scrip slipped nearly 6 per cent to Rs. 313.45 during the week.

Coal India Ltd’s m-cap dropped by Rs. 10,485 crore, to Rs. 2,14,219 crore.

The market value of RIL plunged Rs. 9,464 crore at Rs. 2,79,614 crore, while SBI’s value dipped Rs. 8,288 crore at Rs. 1,53,427 crore.

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ITC m-cap tanked Rs. 5,794 crore at Rs. 2,37,762 crore, while ICICI Bank lost Rs. 4,707 crore to Rs. 1,30,347 crore from its market valuation.

In contrast, TCS added Rs. 15,041 crore to Rs. 2,78,561 crore in its m-cap, while the value of HDFC surged Rs. 4,402 crore to Rs. 1,24,390 crore.

HDFC Bank added Rs. 2,521 crore to Rs. 1,54,014 crore, while the value of Infosys jumped Rs. 1,094 crore to Rs. 1,60,211 crore.

The list of top-10 companies by m-cap for the week ended Friday was led by RIL, followed by TCS, ONGC, ITC, CIL, Infosys, HDFC Bank, SBI, ICICI Bank and HDFC.