Eight of the 10 most valued Indian companies together suffered an erosion of Rs 416.6 billion in their market valuation last week, with Mukesh Ambani-led Reliance Industries (RIL) alone accounting for over Rs 150 billion.
Only HDFC and Infosys added to their market capitalisation (m-cap) in the week ended Friday.
The valuation of RIL plunged by Rs 151.80 billion to Rs 7.9 trillion, while that of Tata Consultancy Services (TCS) dipped by Rs 62.78 billion to Rs 7.899 trillion.
HDFC Bank's m-cap dropped Rs 77.78 billion to Rs 5.509 trillion. The valuation of ITC dived Rs 42.19 billion to Rs 3.75 trillion.
FMCG major Hindustan Unilever (HUL) saw its valuation slump by Rs 19.04 billion to Rs 3.52 trillion, while Maruti Suzuki India tanked by Rs 30.11 billion to Rs 2.60 trillion.
Public sector lender State Bank of India (SBI) witnessed a fall of Rs 12.94 billion in its valuation to Rs 2.59 trillion.
On the contrary, HDFC's m-cap rose by Rs 2.38 billion to Rs 3.25 trillion and technology giant Infosys' valuation surged by Rs 9.04 billion to Rs 3.21 trillion.
In the ranking of top-10 firms, RIL stood at number one position followed by TCS, HDFC Bank, ITC, HUL, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank.
Benchmark Sensex lost some 300 points or 0.77 per cent during the week.