Market value of 7 IT firms slip by Rs 31,966 cr last week

As benchmark BSE index Sensex shed over 122 points last week, seven of 10 most valued companies saw erosion of Rs 31,966 crore in their total market capitalisation during the period.

Reliance Industries, ONGC and Larsen and Toubro witnessed significant fall in their market valuations (m-cap) in the week ended on last Friday (June 20). Among top 10 bluechips, only three companies —  ITC, TCS and Infosys — posted gains in their valuations.

In the ranking of the top 10 Sensex companies, TCS remained at number one, followed by ONGC, RIL, ITC, Coal India, HDFC Bank, State Bank of India, Infosys, ICICI Bank, and Larsen & Toubro in that order. Country's largest software services firm Tata Consultancy Services, added Rs 14,057.27 crore to its market valuation during the past week. Its m-cap was at Rs 4,47,856.8 crore at close last Friday.

ITC's market capitalisation increased by Rs 1,750.27 crore to Rs 2,67,147.99 crore, while Infosys' market value jumped by Rs 7,693.16 crore to Rs 1,90,395 crore. On the other hand, RIL's m-cap plunged by Rs 14,255.70 crore to Rs 3,35,507.9 crore, taking the steepest hit in the domestic market capitalisation chart in the week.

ONGC's m-cap declined by Rs 4,064.28 crore to Rs 3,57,362.4 crore.while ICICI Bank's m-cap dipped Rs 3,538.2 crore to Rs 1,61,719.5 crore.

Coal India's value went down by Rs 1,674.01 crore to Rs 2,44,095.7 crore and Larsen & Toubro lost Rs 3,610 crore to Rs 1,52,778.3 crore.

HDFC Bank's m-cap declined by Rs 2,900.96 crore to Rs 1,98,274.1 crore, while State Bank of India lost Rs 1,923.23 crore to Rs 1,92,659.9 crore.

During the past week, the Sensex fell 122.66 points after it shed 168.29 points in the previous period. The Nifty weakened by 30.65 points for the week ended June 20, after dropping 41.30 points in the week before that.