The combined market capitalisation (m-cap) of five of the top-10 Sensex companies slipped by Rs 24,310 crore last week with market leader Reliance Industries Ltd (RIL) taking the biggest hit.
Bucking the trend, ONGC, Coal India Ltd (CIL), Infosys , ITC and HDFC Bank saw gains in their market cap.
The m-cap of RIL, the country's most-valued company, dropped by Rs 12,965 crore to Rs 2,53,319 crore last week. The firm's share price fell by nearly five per cent. On Friday, RIL lost its position as the Indian stock market's most influential firm to IT major Infosys after a gap of nearly three months. At the end of trade, Infosys was the top-weight Sensex stock with a weightage of 9.63 per cent as against RIL's 9.61 per cent.
IT bellwether TCS saw an erosion of Rs 2,848 crore from its m-cap, which was at Rs 2,36,109 crore on Friday, while power utility NTPC lost Rs 3,215 crore from its valuation which reached Rs 1,43,141 crore.
Country's biggest lender SBI's m-cap dipped by Rs 1,807 crore to Rs 1,41,115 crore while Bharti Airtel shed Rs 3,475 crore from its m-cap, which stood at Rs 1,28,698 crore. In contrast, state-owned ONGC's m-cap advanced by Rs 1,712 crore to Rs 2,41,992 crore while CIL added Rs 2,116 crore to its m-cap at Rs 2,11,503 crore.
Infosys saw marginal gain of Rs 26 crore in its value, which stood at Rs 1,64,218 crore, while ITC added Rs 2,645 crore taking its m-cap to Rs 1,62,588 crore. HDFC Bank's worth climbed Rs 836 crore to Rs 1,22,537 crore. Meanwhile, adopting a bullish stance on India, overseas investors have pumped in over Rs 12,000 crore into the equity market this month so far.
Foreign institutional investors were gross buyers of shares worth Rs 15,362 crore while they sold equities amounting to Rs 14,104.50 crore translating into a net investment of Rs 12,57.30 crore ($258 million) this month till March 9, as per SEBI data.