4 of top 10 cos shed Rs 65,000 cr m-cap in Aug

Amid a weak broader market, four of the top 10 companies witnessed a wealth erosion of Rs 65,000 crore in August, with the country's most-valued firm Reliance Industries emerging as the biggest loser.

However, even after losing a whopping Rs 19,578.40 crore in its market capitalisation (m-cap), Mukesh Ambani-led RIL managed to maintain its numero uno position with the valuation of Rs 3.1 lakh crore.

"The value erosion in the major stocks was mainly in line with the weak broader market. Besides, selling pressure from the FIIs drifted down the valuation of RIL significantly," CNI Research CMD Kishore P Ostwal said.

Meanwhile, the BSE-30 benchmark Sensex lost about 83 points in the month to stand at 17,998.41 points as on August 27.
    
Trading firm MMTC, was the second biggest loser after RIL, registering a decline of Rs 38,765 crore from its m-cap which stood at Rs 1.35 lakh crore.
    
MMTC, was followed by the power producer NTPC and IT bellwether Infosys which together lost over Rs 6,776.25 crore from their m-cap.
    
NTPC shed Rs 2,185.05 crore to its valuation, while Infosys saw a loss of Rs 4,591.2 crore.
    
Bucking the downtrend, oil giant Oil And Natural Gas Corp (ONGC), software major TCS, country's largest lender State Bank of India (SBI), BHEL, FMCG major ITC and telecom operator Bharti Airtel together added Rs 48,349 crore to their market valuation.
    
ONGC was the top performer, with the addition of Rs 16,062.92 crore to its kitty, taking the total market capitalisation to Rs 2.82 lakh crore.
    
Buoyed by a new oil discovery in Gujarat, ONGC saw an upsurge of over Rs 7,800 crore in just two last trading sessions.
    
SBI, saw the second highest profit of Rs 19,001.96 crore in its total market valuation at Rs 1.78 lakh crore and FMCG major ITC rose by Rs 5,358.64 crore.
     
Among the other winners were--country's top telco Bharti Airtel (Rs 3,531.69 crore), TCS (Rs 2,867 crore) and state-run BHEL (Rs 1,527.31 crore).