Indian shares on US bourses gain $962 mn in a week

Indian shares listed on the American bourses gained over 962 million dollars in a week, driven by ICICI Bank and IT major Infosys. Of the 16 Indian stocks trading as American Depository Receipts, only six settled in the positive territory in the week ended May 15, 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 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 capitalisation rising by a whopping $996.72 million in the past week.     

The bank's ADRs had surged four per cent on Friday last week 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 per cent, Dr Reddy's by 1.14 per cent and EXLService Holdings settled with gains of 4.77 per cent 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.