Market valuation of top 9 cos tanks by Rs 82k cr

The market valuation of ITC slumped Rs 18,863 cr to Rs 2,68,725 cr, taking the steepest hit among the top 10 firms.

The combined market valuation of nine of the top 10 most valued Sensex companies eroded by Rs 81,812 crore last week amid an overall weak stock market sentiment.

Barring Sun Pharma, rest nine companies, including ITC, CIL and HDFC witnessed decline in their market capitalisation (m-cap).

On a weekly basis, the BSE benchmark index Sensex fell by 2.96 per cent to 26,656.83.

The market valuation of ITC slumped Rs 18,863.88 crore to Rs 2,68,725.44 crore, taking the steepest hit among the top 10 firms.

CIL's m-cap dipped by Rs 13,580.18 crore to Rs 2,02,060.50 crore and that of HDFC plunged Rs 13,197.28 crore to Rs 1,98,345.75 crore.

The valuation of SBI tanked by Rs 12,148.75 crore to Rs 1,84,133.07 crore and ONGC suffered a loss of Rs 8,213.27 crore to Rs 2,12,047.82 crore.

TCS took a hit of Rs 7,664.96 crore to Rs 4,92,074.97 crore; Infosys (Rs 2,871.18 crore to Rs 2,60,944.40 crore); HDFC Bank (Rs 2,719.65 crore to Rs 2,76,258.39 crore) and RIL (Rs 2,552.82 crore to Rs 3,06,992.27 crore).

In contrast, Sun Pharma added Rs 986.64 crore to Rs 2,13,932.19 crore in its market valuation.

The ranking of top 10 firms remained as follows: TCS, RIL, HDFC Bank, ITC, Infosys, Sun Pharma, ONGC, CIL, HDFC and SBI.