Market capitalisation of top seven Sensex companies fell by Rs 60,600 crore last week as Dalal Street resorted to correction mode amid a disappointing start to the Q1 earnings season and Parliamentary logjam that threatened to derail the progress of crucial economic reforms such as the GST.
Drug major Sun Pharmaceuticals which issued a profitability warning took the major hit, while TCS, HDFC Bank, Coal India, ITC, ONGC and SBI also suffered significant losses in their market value in the week ended July 24, 2015.
Sun Pharma witnessed an Rs 26,614.38 crore drop in its market value to Rs 201,111.83 crore last week after warning that charges from its ongoing integration with Ranbaxy Laboratories may hurt FY 2015-16 profitability.
The market cap of TCS, the country's biggest IT software services exporter fell by Rs 10,890.53 crore to Rs 490,416.52 crore last week while that of state-run energy major ONGC declined Rs 8,084.94 crore to Rs 242,163.15 crore.
ITC's market value fell by Rs 5,911.21 crore to Rs 252,028.21 crore while public sector banking giant SBI shed Rs 5,712.49 crore of its market cap to Rs 199,369.58 crore.
The market value of Coal India fell by Rs 2,494.96 crore to Rs 269,013.96 crore last week, while that of private lender HDFC Bank declined Rs 891.56 crore to Rs 277,968.20 crore.
The 30-share Sensex shed 351 points to end at 28,112.31 last week.