New Delhi, May 17 -- The combined market valuation of nine of the top 10 valued firms eroded by Rs.3.12 lakh crore last week, with Reliance Industries taking the biggest hit.

Last week, the 30-share BSE Sensex plunged by 2,090.2 points, or 2.7 per cent, while the 50-share NSE Nifty declined 532.65 points, or 2.2 per cent.

"Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.

The sharp rise in crude oil prices above the USD 105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margi...