Three Sensex firms lose Rs 14,045 cr in m-cap; ONGC biggest loser
The week ahead should see Nifty deciding the short term trend and trying to find support at its swing bottom of 4788 and recovering or heading lower to test the 2011 lows of 4550.
The combined market capitalisation (m-cap) of three of the top 10 Sensex companies declined by Rs 14,045 crore in the week gone by, with energy major ONGC alone taking a hit of Rs 9,240 crore.
However, seven companies - TCS, Coal India, ITC, Infosys, SBI, NTPC and Bharti Airtel - saw m-cap gains totalling Rs 13,114 crore despite a weak broader market where the BSE 30-scrip benchmark Sensex lost 1.55 per cent during the May 25 - June 1 week.
The market value of state-owned ONGC declined Rs 9,240 crore at Rs 2,10,721 crore. The shares of the company fell by 4.2 per cent during the week.
RIL was the second biggest loser as its value dropped Rs 2,717 crore to Rs 2,23,881 crore, while HDFC Bank saw its m-cap erode by Rs 2,088 crore to Rs 1,15,325 crore.
On the other hand, CIL was the top performer with its value rising Rs 5,084 crore to Rs 2,02,944 crore.
M-cap of NTPC advanced by Rs 2,598 crore to Rs 119,518 crore, while ITC added Rs 1,603 crore to its m-cap at Rs 1,82,794 crore. SBI saw a jump of Rs 1,423 crore at Rs 1,35,967 crore.
IT companies Infosys and TCS together added Rs 1,533 crore to their value. The m-cap of Infosys was Rs 1,37,114 crore, while TCS m-cap stood at Rs 2,39,710 crore.
Telecom major Bharti added Rs 873 crore to its value which was at Rs 1,14,286 crore. TCS remained at the top, followed by RIL, ONGC, CIL, ITC, Infosys, SBI, NTPC, HDFC Bank and Bharti.