ALSO READIndia Inc holds back on dividends 8 of top 10 stocks lost Rs 54,539 cr in m-cap last week, RIL worst hit 9 of 10 most valued firms lose Rs 1,05,357 cr in m-cap; RIL, SBI worst hit 6 of 10 most valued firms lose Rs 13,799 cr in m-cap; HUL, Infy worst hit Four of top-10 valued cos lost Rs 30,339 cr in m-cap last week
Eight of the 10 most valued Indian companies saw a combined erosion of Rs 82,653.59 crore in market valuation last week, with Reliance Industries Ltd (RIL) taking the steepest hit.
Except for Oil and Natural Gas Corporation (ONGC) and Infosys, the rest eight companies, including Tata Consultancy Services (TCS), HDFC Bank, ITC and HDFC, suffered losses in their market capitalisation (m-cap) for the week ended Friday.
RIL's market valuation plummeted Rs 22,385.57 crore to Rs 4,95,300.50 crore.
In contrast, ONGC's valuation surged Rs 7,956.61 crore to Rs 2,18,999.16 crore and that of Infosys rose by Rs 162.28 crore to Rs 2,06,441.84 crore.
Both the Sensex and the Nifty suffered weekly losses for the third time this month, down 638.72 points, or 2 per cent, and 175.80 points, or 1.76 per cent, respectively.