7 of top 10 firms lose Rs 48,000 cr in market cap

As the market remained volatile over the last week, seven of the top 10 companies lost over Rs 48,000 crore from their market valuation with Reliance Industries Ltd turning out to be the biggest loser.
    
The firms that bucked the trend were SBI, ONGC and ITC, which added Rs 14,628.86 crore to their market capitalisation (m-cap) for the week ended May 21.
    
During the week, the 30-share benchmark index Sensex of the BSE lost 548.99 points, or 3.23 per cent, to settle at 16,445.61 points on Friday.
    
Though RIL lost Rs 15,624.4 crore from its m-cap, bringing its total valuation down to Rs 3,25,655.06 crore, it managed to maintain its numero uno position. RIL shares fell by 4.58 per cent to settle at Rs 995.75 on Friday.
    
Meanwhile, state-run ONGC, at the second spot, added Rs 10,245 crore in its m-cap, while power producer NTPC, at third place, lost Rs 8,080 crore from its market valuation. At the end of the week, the m-cap of ONGC stood at Rs 2,33,746.41 crore while NTPC's valuation fell to Rs 1,61,734.7 crore.
     
ONGC shares surged 11 per cent on Thursday, following the government's decision to double natural gas prices.
     
Trading firm MMTC inched to the fourth place from its earlier fifth slot, even after losing Rs 1,648.75 crore from its market valuation, taking its total m-cap to Rs 1,48,571 crore, while IT bellwether Infosys Technologies slipped to the fifth place from the fourth after losing Rs 4,056.91 crore to settle at Rs 1,48,398.46 crore.
    
The country's largest public sector lender SBI, climbed to the sixth place from the seventh after adding Rs 3,104.57 crore, taking its total m-cap to Rs 1,44,216.17 crore, while leading software outsourcing firm TCS saw its valuation fall by Rs 8,719.33 crore to Rs 1,40,761.82 crore.
    
Two state-run firms, BHEL and NMDC, together lost Rs 10,089.79 crore from their market valuation.
    
Power equipment maker BHEL, at the eighth place, saw its m-cap fall by Rs 3,429 crore, and iron ore producer NMDC, at the ninth spot, witnessed its valuation fall by Rs 6,660.7 crore to Rs 1,08,771.54 crore.
    
FMCG firm ITC, at last place, added Rs 1,279.1 crore into its valuation, taking its total m-cap to Rs 1,03,664.13 crore.