The combined market capitalisation (m-cap) of three of the top 10 Sensex companies declined by Rs 14,045 crore in the week gone by, with energy major ONGC alone taking a hit of Rs 9,240 crore.
However, seven companies - TCS, Coal India, ITC, Infosys, SBI, NTPC and Bharti Airtel - saw m-cap gains totalling Rs 13,114 crore despite a weak broader market where the BSE 30-scrip benchmark Sensex lost 1.55% during the May 25 - June 1 week.
The market value of state-owned ONGC declined Rs 9,240 crore at Rs 2,10,721 crore. The shares of the company fell by 4.2% during the week.
RIL was the second biggest loser as its value dropped Rs 2,717 crore to Rs 2,23,881 crore, while HDFC Bank saw its m-cap erode by Rs 2,088 crore to Rs 1,15,325 crore.
On the other hand, CIL was the top performer with its value rising Rs 5,084 crore to Rs 2,02,944 crore.
M-cap of NTPC advanced by Rs 2,598 crore to Rs 119,518 crore, while ITC added Rs 1,603 crore to its m-cap at Rs 1,82,794 crore. SBI saw a jump of Rs 1,423 crore at Rs 1,35,967 crore.
IT companies Infosys and TCS together added Rs 1,533 crore to their value. The m-cap of Infosys was Rs 1,37,114 crore, while TCS m-cap stood at Rs 2,39,710 crore.
Telecom major Bharti added Rs 873 crore to its value which was at Rs 1,14,286 crore.
TCS remained at the top, followed by RIL, ONGC, CIL, ITC, Infosys, SBI, NTPC, HDFC Bank and Bharti.
Most small, mid-cap stocks beat blue-chips so far this year
Mumbai, Jun 3 (PTI) The BSE's mid-cap and small-cap indices have outperformed their large blue-chip peers so far this year, with several of stocks giving handsome returns of as much as 70% in an otherwise downbeat market.
After witnessing sharp losses last year, the BSE mid-cap and small-cap indices have recorded gains up to 15.12% compared to the benchmark Sensex's less than 5% rise.
Cap is short for market capitalisation (m-cap), a measure by which investors classify a company's size. Large-caps have the highest market value, followed by mid-caps and small-caps.
While the mid-cap index of the BSE has given a return of 15.12%, since the beginning of 2012, the small-cap index has gained 12.85%.
In comparison, the Sensex -- consisting of large-caps --could only manage to rise by 4.51%, BSE data shows.
Typically, the mid-cap indices track the performance of companies with market value that are a fifth of blue-chip firms (large-caps), while the m-cap of small-cap firms are of almost one-tenth of an average large-cap.
According to Rajesh Jain EVP Retail Research Religare Securities: "Whenever stock markets are in an uptrend, it is observed that small-cap and mid-cap indices do much better than Sensex stocks. In the last one month when there was heavy selling in the market, these smaller stocks have fallen more than large cap stocks."
In May, the Sensex fell by 6.26%, while the mid-cap index lost 6.2% while the small-cap index plummeted by 7.47%.
He further added that, mid-cap and small-cap are higher beta stocks than Sensex scrips.
High-beta stocks are supposed to be riskier but provide a potential for higher returns; low-beta stocks pose less risk but also lower returns.
Large blue-chip stocks are usually held by big investors and they do not worry about small fluctuations.
From the small-caps, shares of scrips like Jubilant Foodworks, Bata India, HDIL, Lanco Infra and Orbit Corp have surged by 70%, 65.55%, 24.69%, 26.73% and 57.74%, respectively.
Most stocks in the mid and small-cap segments were beaten heavily during 2011, as their financial performance was impacted by rising interest rates, analysts said.
The mid-cap and small-cap indices plunged by 34% and 42%, respectively, during 2011. On the contrary, the Sensex slumped about 25% during the same period as investors bet that large-caps could weather the storm better than their smaller peers.
Macroeconomic headwinds on the global and domestic front and concerns over policy reforms influenced the market through out 2011.