New York: Indian shares listed on the American bourses gained over $962 million in a week, driven by ICICI Bank and IT major Infosys.
Of the 16 Indian stocks trading as American Depository Receipts (ADR), only six settled in the positive territory in the week ended 15 May, while the rest closed in the red.
The Indian entities, most of which saw a surge on Friday last week ahead of the outcome of general elections, listed on the New York Stock Exchange (NYSE) and Nasdaq collectively gained $961.79 billion in the reviewed week.
The country’s largest private lender, ICICI Bank, emerged as the biggest gainer with its market capitalization rising by a whopping $996.72 million in the past week.
The bank’s ADRs had surged 4% on Friday on the New York Stock Exchange.
IT giants Infosys and Wipro added $492.58 million and $496 million to their market caps, respectively.
Among other gainers, the shares of Patni Computer surged by 12.4%, Dr Reddy’s by 1.14% and EXLService Holdings settled with gains of 4.77% in the past week.
Meanwhile, Sterlite Industries India emerged as the biggest loser with its market cap plunging by $360 million followed by Tata Communications with a loss of $294 million in the previous week.
Further, Tata Motors’ market cap dropped by $107 million, while Genpact lost as much as $139 million.