The market capitalisation (m-cap) of nine of the country's top-10 firms diminished by Rs 67,964.18 crore during the week, with oil and gas major ONGC bearing the maximum brunt. Barring Reliance Industries (RIL), which added Rs 2,206.11 crore to its market worth stood at Rs 3,48,530.06 crore as on Friday’s trade. The other top-10 firms saw a decline in their respective valuations, including the top lenders SBI and ICICI Bank.
State-run ONGC saw an erosion of Rs 18,779.28 crore from its valuation, which stood at Rs 2,57,862.17 crore as on Friday’s trade on the Bombay Stock Exchange (BSE).
During the week, shares of ONGC plunged by 87.8 points or 6.78 per cent to close at Rs 1,205.60 on BSE.
SBI and ICICI Bank together emerged as the major turn-off for the broader market. These two firms together lost Rs 24,509.72 crore from their cumulative market valuations. The m-cap of SBI was Rs 1,65,087.88 crore, while that of ICICI Bank was Rs 1,20,371.18 crore.
