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MUMBAI: Of the top-10 corporate firms in the country, five lost over Rs 24,000 crore from their combined market capitalisation, with energy giant ONGC emerging as the major loser.

State-run ONGC held the second position after Reliance Industries (RIL), which maintained its top status. The oil and gas major saw an erosion of Rs 8,288.13 crore from its market capitalisation (m-cap), taking its total valuation to Rs 2,68,524.43 crore for the week ended July 16.

During the past week, ONGC’s shares fell nearly 3 per cent. On Friday alone, the scrip closed up 1.32 per cent to Rs 1,255.45.

The stock market benchmark BSE Sensex during the past week recorded a gain of 0.6 per cent. The market was volatile and during the period the Sensex regained the 18,000-level, but was unable to extend gains till the end of Friday’s trade.

Five lost over Rs 24,000 crore from their combined market capitalisation, with energy giant ONGC emerging as the major loser.

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This post was submitted by Harshit.

Thanks to economictimes.indiatimes.com