The value erosion was huge because big guns like RIL, HDFC bank, TCS, Kotak Bank and even ITC took a big hit during the week. ITC, of course, fell on fears that the budget could impose higher tax imposts on cigarettes. In fact, if you look at the big 10 stocks then 6 out of the ten most valued Indian companies lost or eroded Rs.81,148 crore from their market cap. Of course, Reliance Industries took the biggest knock while other heavyweights like TCS, HDFC Bank, HDFC, Kotak Bank and ITC were the other blue chips to see value erosion. The fall could have been worse if it had not been held up by stocks like ICICI Bank and Hindustan Unilever. RIL alone lost over $5 billion during the week, while HDFC Bank lost $2.5 billion.

During the week, the Sensex lost 332 points but that may be misleading as the selling was very rampant in the first three days of the week, before the late recovery.