Mumbai: The combined market capitalization (m-cap) of top firms has declined by Rs 18,578.4 crore during the week. Infosys technologies suffered the biggest blow.

In the week gone by, the market-cap of IT bellwether Infosys Technologies reduced by Rs 13,673.15 crore to Rs 1,71,598.96 crore.

Infosys reported a 13.62 per cent jump in net profit at Rs 1,818 crore on Friday for the fourth quarter ended March 31, 2011, which market experts termed as below expectations.
It reported a revenue of Rs 7,250 crore for the quarter.

The company expects revenue in the range of Rs 7,311-7,382 crore for the quarter ending June 30, 2011 and in the range of Rs 31,727-32,270 crore for FY12.

"Infosys fourth quarter numbers were below our expectations in a seasonally weak quarter. The guidance for FY12 was also below our expectation," financial services group Prabhudas Lilladher said in a note.

After Infosys, state-run energy giant ONGC emerged as the second biggest loser by shedding Rs 2,138.87 crore from its M-cap which stood at Rs 2,44,643.95 crore as on Friday's trade on the BSE.

The market worth of country's most valued firm Reliance Industries also dropped by Rs 1,915 crore to Rs 3,33,373.24 crore.

Similarly, IT major TCS saw its valuation eroding by Rs 851.38 crore to Rs 2,33,014.45 crore.

In contrast, FMCG player ITC, telecom major Bharti Airtel, SBI, ICICI Bank, NTPC and CIL witnessed gains in M-cap during the week.

The M-cap of ITC advanced by Rs 5,648.81 crore to Rs 1,48,107.23 crore, while that of Bharti rose by Rs 3,835.5 crore to Rs 1,41,324.71 crore.

Two of the country's biggest lenders -- SBI and ICICI Bank -- together added Rs 1,926.59 crore to their combined valuations. The M-cap of SBI stood at Rs 1,78,006.75 crore,
while that of ICICI Bank was at Rs 1,26,537.17 crore.