Market cap of top 7 Sensex firms falls Rs 29,907 cr

29/08/2016 16:09

The overall market capitalisation of seven of the top ten Sensex firms tanked by a massive Rs 29,906.6 crore, with TCS emerging as the biggest loser as the 30-share Sensex fell 294.75 points or 1.04 per cent to 27,782.25 as fears over an earlier than expected US interest rate hike played spoilsport.

The country’s top software exporter, TCS, witnessed a decline in its market value of Rs 14,738.8 crore to Rs 4,98,350.78 crore last week, while the market cap of SBI fell Rs 9,160.08 crore to Rs. 1,91,507.71 crore.

ONGC’s market cap plunged Rs 2,994.42 crore to Rs. 2,04,005.66 crore last week while that of HUL fell Rs 2,031.91 crore to Rs. 1,95,347.30 crore.

The market cap of CIL tumbled Rs 473.73 crore to Rs 2,10,619.17 crore, while that of HDFC declined Rs 427.27 crore to Rs. 2,16,315.16 crore.

Infosys witnessed a drop in its market cap of Rs 80.39 crore to Rs. 2,34,460.63 crore last week.

With Fed Chair Janet Yellen keeping the door open for a US rate hike in September, Dalal Street may remain under pressure this week. An earlier than expected Fed move may result in volatility in capital flows into emerging markets including Asia’s third biggest economy.

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