Amid Sensex tumbling over four per cent in a week, the ten most valued companies witnessed a wealth erosion of a whopping Rs 1 lakh crore last week, with the country’s largest lender State Bank of India emerging as the biggest loser.

The Bombay Stock Exchange barometer Sensex declined by 4.03 per cent or 848 points at 20,156.89, making the top ten firms in terms of market capitalisation lose Rs 1,05,271.24 crore.

SBI was the worst hit with a value erosion of Rs 29,155.57 crore last week; it slipped to the fifth spot from the third position in the elite club of ten most valued firms.

On Friday, the reports of Reserve Bank degrading the SBI to B- from B amid a sluggish broader market, dampened the investor sentiment and the shares of SBI ended with 4.55 per cent loss at Rs 3,030.40, making its investors poorer by Rs 29,155.57 crore.

The bank’s m-cap has plunged to Rs 1,92,427.37 crore from Rs 2,21,582.94 crore.

The third spot is now occupied by the software giant TCS with an m-cap of Rs 2,06,944.54 crore.

With a market capitalisation of Rs 3,47,477.67 crore, the country’s most valued firm Reliance Industries continued to dominate at the first place despite shedding Rs 14,758.43 in its valuation.

RIL was followed by the oil and gas giant ONGC at the second spot with a total valuation of Rs 2,79,507.53 crore. The company’s m-cap declined by Rs 15,474.73 crore.

Even as m-cap of Coal India, which made a spectacular entry in the top-10 club last week, declined by Rs 1,8791.17 crore, it managed to maintain its fourth position with an m-cap of Rs 2,02,060.36 crore.

IT bellwether Infosys Technologies at the sixth spot, shed Rs 4,623.8 crore in its total valuation to Rs 1,72,168.95 crore. It was followed by NTPC at the seventh place, whose valuation slid by Rs 3,339.42 crore to Rs 1,58,436.51 crore.

Private sector lender ICICI Bank (eighth spot) and the FMCG giant ITC (ninth spot) saw their respective valuations decline by Rs 7,709.63 crore and Rs 2,574.85 crore.

Besides, the infrastructure giant Larsen & Toubro re-entered the elite club at the tenth position, replacing the state-run trading firm MMTC. However, L&T’s m-cap dipped by Rs 4,899.79 crore to Rs 1,26,410.24 crore.

MMTC fell to the eleventh spot, with a loss of Rs 5,690 crore in its m-cap at Rs 1,26,335 crore.

source: Business-Standard

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