Seven major companies lose Rs 28,104 crore in market value last week

MUMBAI: Dragged down by ICICI Bank, the combined market capitalization of seven of the top 10 sensex companies tanked by Rs 28,104 crore last week.Market valuation of ICICI Bank dropped the most by Rs 8,249 crore to Rs 1,23,115 crore among seven bluechip companies, including ONGC, Infosys and HDFC Bank. ONGC's market worth declined by Rs 5,476 crore to Rs 2,73,176 crore, while Infosys' market capitalization (m-cap) dropped by Rs 4,967 crore to Rs 1,65,592 crore. HDFC Bank saw an erosion of Rs 4,331 crore from its m-cap which fell down to Rs 1,51,611 crore. Shares of ICICI Bank and HDFC Bank tumbled last week following accusations that the lenders have indulged in money laundering. Software major TCS's market value plunged by Rs 2,594 crore to Rs 3,07,459 crore while RIL's declined by Rs 2,329 crore to Rs 2,73,014 crore. The m-cap of Coal India fell by Rs 158 crore to Rs 2,02,123 crore. On the other hand, ITC, SBI and HDFC saw rise in their market capitalizations last week. In contrast, SBI's m-cap surged Rs 3,861 crore to Rs 1,51,766 crore, while ITC added Rs 3,393 crore to its market value which was Rs 2,38,344 crore at close last Friday. The m-cap of mortgage major HDFC moved up by Rs 423 crore to Rs 1,25,662 crore. The BSE benchmark sensex fell by 1.29 per cent to end the week at 19,427.56.