M-cap of 7 bluechips declines by over Rs 29,000 cr last week
Mumbai: Amid a sluggish broader market, the combined market capitalisation (m-cap) of seven of top 10 bluechip companies dropped by Rs 29,174.16 crore, with IT major TCS taking the biggest hit.
The market value of TCS dropped by Rs 9,443 crore to Rs 2,38,957 crore. Shares of the company plunged by 4 percent last week.
Rival Infosys' m-cap also dipped by Rs 5,047 crore to Rs 1,64,192 crore during the week.
State-run NTPC lost Rs 4,948 crore from its market value which was at Rs 1,46,356 crore, while ITC's worth declined by Rs 3,432 crore to Rs 1,59,943 crore last week.
State-owned ONGC saw an erosion of Rs 2,909 crore from its value which stood at Rs 2,40,280 crore on Saturday last week. The government sold five percent of its stake in ONGC last week through auction that received bids for 42.04 crore shares, as against an offer size of 42.77 crore shares.
RIL's m-cap slipped by Rs 2,341 crore to Rs 2,66,284 crore, while HDFC Bank shed Rs 1,054.16 crore to Rs 1,21,701 crore.
In contrast, Coal India, SBI and Bharti Airtel saw rise in their market cap.
The m-cap of CIL surged by Rs 2,684 crore to Rs 2,09,387 crore, while SBI added Rs 2,791 crore taking its m-cap to Rs 1,42,922 crore and Bharti's value jumped Rs 2,184 crore to Rs 1,32,173 crore.
In the broader market, the BSE barometer Sensex ended the week with a loss of 1.6 percent at 17,636.99.