Old economy firms strike back, top m-cap rankings

 For the first time since the dotcom boom, old economy stocks have recaptured the top five market capitalisation rankings on the Bombay Stock Exchange.

 Today, domestic banking giant State Bank of India (SBI) moved up to the fifth position, displacing the last new economy entry, Infosys Technologies.

 Oil and Natural Gas Corporation (ONGC) ranked number one with a market capitalisation of Rs 78,134 crore, followed by private sector giant Reliance Industries (Rs 50,074 crore), fast-moving consumer goods giant Hindustan lever (Rs 39,137 crore), Indian Oil Corporation (Rs 38,891) crore and SBI (Rs 22,686 crore).

 Infosys Technologies slipped to sixth position today after its market value declined 1.01 per cent (Rs 231 crore) to Rs 22,646 crore.

 Thus, three of the top five companies in the market capitalisation rankings are public sector companies. This completes the churn in the rankings after the technology meltdown in early 2001.

 ONGC ranked number nine during the heyday for technology valuations in February 2000.

 Wipro, which commanded a market capitalisation of Rs 1,41,016 crore at the peak of the technology boom, slipped to seventh position today, with a market capitalisation of Rs 21,192 crore.

 Zee Telefilms slipped from the third position at the height of the boom to 36th today.

 Satyam Computer is now at 12th place, Pentamedia Graphics at 289th, Himachal Futuristics at 120th and HCL Technologies at 35th.