Indian stocks trading on American bourses lost over $1 billion last week, with IT bellwether Infosys accounting for more than half of the total loss.

For the week ended August 14, Indian entities listed on two US bourses --the New York Stock Exchange and Nasdaq-- shed $1.44 billion from their total market capitalisation. Infosys' valuation alone plunged by $961 million.

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The valuation of telecom firm Mahanagar Telephone Nigam (MTNL) fell by nearly $76 million, while that of drug maker Dr Reddy's declined by $55.6 million.

Besides, outsourcing firms WNS Holdings and EXLService too witnessed an erosion of $50 million in their mcap.

The pack of losers include IT firms Mahindra Satyam and Tata Consultancy Services which shed $13.40 and $4.4 million respectively. Rediff.com declined by nearly $5 million.

However, Azim Premji-led Wipro, auto behemoth Tata Motors and NRI billionaire Anil Agarwal-led Sterlite Industries were among the pack of six companies, which gained on bourses during the week.

Sterlite Industries led the gainers pack and added $134 million in its market capitalisation, whereas Wipro and Tata Motors added $74 and $58 million, respectively.

BPO firm Genpact's valuation increased by $19 million and another IT company Patni Computer rose by $98 million, while internet firm Sify added $11.12 million.

Last week, the US Federal Reserve had said the country's economic activity is bottoming out and financial conditions have improved.

On Friday, the US markets ended in the red with the Dow Jones Industrial Average (DJIA) settling down by 0.82 per cent to 9,321.40 and S&P 500 ended at 1,004.09, down 0.85 per cent. Besides, tech heavy Nasdaq by fell 1.19 per cent to 1,985.52 points.

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