Led by ITC, nine of the top 10 companies lost a staggering Rs 1,35,000 crore over the last 30 days in a highly volatile market.
ONGC was the only member of the elite club that saw a rise in its market capitalisation.
FMCG major ITC was the biggest loser, with a loss of Rs 91,139 crore. Between April 28 and May 28, nine companies lost a whopping Rs 1,34,880.25 crore from their valuation.
However, state-run ONGC, the second-most valued firm, saw its market capitalisation (m-cap) swelling by Rs 18,009.28 crore to stand at Rs 2,41,895 crore by the end of Friday's trade on the Bombay Stock Exchange (BSE) on May 28.
ONGC had a market valuation of Rs 2,23,886.22 crore on April 28.
Meanwhile, 30-share BSE benchmark index Sensex lost 640.41 points, or nearly 4 per cent, to settle at 16,863.06 points at the end of Friday's trade. The market still has one day to trade on May 31.
Shares of ONGC gained nearly 9 per cent during the period to settle at Rs 1,130.95 on the BSE.
The country's most valued firm, Reliance Industries, maintained its numero uno status even after losing Rs 269.71 crore from its m-cap, taking its total market valuation to Rs 3,38,115.47 crore.
Power utility firm NTPC, at the third position, saw its valuation decline by Rs 2,226.27 crore while IT bellwether Infosys Technologies, at the fourth spot, witnessed a value erosion of Rs 1,798.93 crore from its m-cap.
At the end of the month, the valuation of NTPC stood at Rs 1,65,692.52 crore while Infosys Technologies' m-cap was Rs 1,5,3491.11 crore.
Software outsourcing firm TCS, at the fifth spot, saw its valuation fall by Rs 1,996.34 crore, while trading firm MMTC, at the sixth place, lost Rs 14,325.5 crore from its m-cap.
The total market valuation of TCS stood at Rs 1,46,692.14 crore while that of MMTC was Rs 1,43,601 crore.
Public sector lender SBI, at the seventh position, lost Rs 2,485.55 crore from its m-cap, taking its total valuation to Rs 1,41,914.73 crore. Power producer BHEL, at the eighth position, also lost Rs 8,784.43 crore from its m-cap and its valuation stood at Rs 1,13,519.69 crore.
FMCG major ITC remained at the ninth position and saw its valuation fall by Rs 91,139 crore to Rs 10,711.42 crore.
State-run NMDC -- at the last spot -- lost Rs 11,854.45 crore from its m-cap, taking its total valuation to Rs 1,05,500.67 crore.
Meanwhile, for the week ended May 28, four of the top 10 companies lost Rs 1,03,495.02 crore from their m-cap while six firms added Rs 36,897.31 crore to their kitty.