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M-cap of top 5 Sensex cos dips by Rs 26,287 cr

M-cap of top 5 Sensex cos dips by Rs 26,287 cr
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Dragged by Infosys, the combined market capitalisation of the top five Sensex companies slipped Rs 26,287 crore last week in a weak stock market. While Infosys, Bharti Airtel, RIL, SBI and NTPC saw erosion in their market value, TCS, ONGC, CIL, ITC and HDFC Bank made gains as BSE 30-stock Sensex lost 1.75 per cent to close the week at 17,213.70.

The market value of Infosys fell by Rs 12,406 crore at Rs 1,27,927 crore, as investors went on a selling spree following the company's cut in revenue outlook. It revised FY'13 dollar revenue growth guidance to five per cent, from 8 to 10 per cent given in April.

'Infosys reported yet another disappointing quarterly results. It scaled down FY'13 yearly dollar revenue guidance. We believe this clearly indicates challenging visibility in the business volumes and management's future expectation,' Angel Broking IT research analyst Ankita Somani said.

The market capitalisation of Bharti dropped by Rs 5,203 crore to Rs 1,16,887 crore, while RIL's value dipped by Rs 5,092 crore to Rs 2,35,358 crore. SBI shed Rs 2,597 crore in market capitalisation, which was Rs 1,46,240 crore last Friday, while the valuation of NTPC fell by Rs 989 crore, to Rs 1,31,350 crore.

In contrast, ONGC's market cap surged by Rs 5,219 crore to reach Rs 2,43,617 crore, while CIL added Rs 1,673 crore taking its total value to Rs 2,23,630 crore. The market cap of HDFC Bank rose Rs 836 crore, to Rs 1,38,166 crore, ITC's value moved up by Rs 743 crore, to Rs 1,98,314 crore and the market worth of TCS soared Rs 676 crore, to Rs 2,44,584 crore.
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