Mumbai: The combined Market Capitalisation (m-cap) of the country’s top 10 companies slid by Rs 60,046.55 crore during the last week, with telecom giant Bharti Airtel and banking major State Bank of India (SBI) emerging as the biggest losers.

The m-cap of Bharti diminished by Rs 10,652.05 crore in the week gone by to Rs 1,33,198.01 crore.

The telecom firm had last week reported 31 percent decline in consolidated net profit at Rs 1,400.7 crore for the fourth quarter ending March 31, mainly due to high cost of African operations, re-branding expenses and high spectrum charges.

According to analysts, Bharti's fourth quarter performance remained below market expectations.

"Bharti's result are little lower than expectation. The company's profits are also below estimate," SMC Capitals Strategist and Head of Research Jagannadham Thunuguntla said.

During the week, the company's stock fell by over seven percent to finally close at Rs 350.75 apiece on the Bombay Stock Exchange (BSE).

Country's biggest lender SBI also witnessed a decline in m-cap as it shed Rs 10,328.11 crore  from its kitty to take its valuation to Rs 1,67,824.68 crore.

Corporate leader Reliance Industries' market worth slipped by Rs 8,691.36 crore to Rs 3,12,757.83 crore, while state-owned ONGC lost Rs 2,523.87 crore to take its valuation to Rs 2,61,754.91 crore.

State-run firms like Coal India and NTPC, too, saw a decrease in their respective m-cap, with the former losing Rs 6,853.25 crore from its m-cap which stood at Rs 2,33,231.59 crore, while the latter shed Rs 5,813.04 crore to Rs 1,44,213.1 crore.

TCS and Infosys Technologies, together lost Rs 4,822.19 crore from their combined market valuations. The m-cap of TCS stood at Rs 2,24,011.33 crore, while that of Infosys was at Rs 1,65,748.48 crore.

The m-cap of diversified business group ITC also diminished by Rs 6,577.39 crore to Rs 1,41,955.44 crore, while that of ICICI Bank's m-cap eroded by Rs 3,785.29 crore to Rs 1,24,560.71 crore.

The BSE benchmark Sensex fell by 617.15 points, or 3.22 percent, to settle at 18,518.81 during the last week.

(Agencies)