M-cap of six Sensex firms plunged by over Rs 25,000 cr
Markets will look to consolidate in the week ahead after most event risks like monetary policy and budget now over.
The combined market capitalization (m-cap) of six of the top 10 Sensex bluechips declined by Rs 25,128 crore last week, with energy major ONGC taking the biggest hit.
The company lost Rs 8,171 crore in m-cap which reached Rs 2,33,821 crore on March 16. Its scrip slipped by over 3 per cent to Rs 273.30 during the trading week, which left investors disappointed by RBI's monetary policy that did not cut lending rates amid high inflation.
Besides, the Union Budget 2012-13 on Friday was viewed as focussed more on mopping taxes, adding to inflationary pressures, rather than pushing reforms.
TCS took the second biggest hit with a drop of Rs 7,604 crore and its m-cap reached Rs 2,28,505 crore.
Bharti Airtel was another loser on the list as its market worth saw an erosion of Rs 4,519 crore to Rs 1,24,179 crore, while HDFC Bank's value dipped Rs 3,551 crore to Rs 1,18,986 crore.
NTPC's m-cap diminished by Rs 742 crore to Rs 1,42,399 crore, and that of RIL fell Rs 541 crore to Rs 2,52,778 crore.
Coal India Ltd, ITC, Infosys and SBI recorded gains.
CIL added Rs 4,674 crore to m-cap, taking its value to Rs 2,16,177 crore, while ITC's market value surged Rs 6,089 crore to Rs 1,68,677 crore.
Infosys' m-cap advanced Rs 356 crore to Rs 1,64,574 crore and SBI's value jumped Rs 359 crore to Rs 1,41,474 crore.
The BSE 30-scrip barometer Sensex fell 0.21 per cent to 17,466.20 during the week.