Dragged down by SBI, the combined market value of top seven Sensex companies fell by Rs 31,792 crore last week in a weak stock market, where the Sensex fell by about 2 per cent.
The market value of SBI fell by Rs 12,974 crore to Rs 1,30,263 crore. With this, SBI also lost its status as the country’s most valued lender in terms of market capitalisation (M-Cap) to HDFC Bank on Friday.
After SBI, CIL took the biggest hit as its M-cap declined by Rs 4,580 crore to Rs 2,23,409 crore.
State-owned ONGC saw its value dip by Rs 4,491 crore to Rs 2,37,329 crore, while Infosys’ market worth fell by Rs 3,948 crore to Rs 1,23,393 crore, Bharti Airtel lost Rs 2,753 crore to Rs 1,16,584 crore.
The M-cap of NTPC dropped Rs 2,309 crore to Rs 1,26,196 crore and RIL saw its market worth plunge Rs 737 crore to Rs 2,35,898 crore.
In contrast, TCS, ITC and HDFC Bank saw gains in their market capitalisation.
TCS added Rs 529 crore to its market value which was Rs 2,39,906 crore, ITC’s M-cap jumped Rs 1,173 crore to Rs 1,98,900 crore and the value of HDFC Bank moved up by Rs 294 crore to Rs 1,37,554 crore.
In the list of top-10 companies, TCS yet again surpassed ONGC for the top slot. ONGC was at second place, followed by RIL, CIL, ITC, HDFC Bank, SBI, NTPC, Infosys and Bharti.
This month, there has been a change in the top slot thrice. On July 3, ONGC had pipped TCS, ONGC had regained the numero uno position on July 16 and then again on Friday the Tata group flagship firm reclaimed the position.