Indian companies listed on the American bourses lost close to $10 billion during the past week, with IT bellwether Infosys witnessing the maximum erosion of about two billion dollars.
The 16 Indian firms listed on NYSE and Nasdaq saw their collective market capitalisation dip to $78.9 billion, from $88.7 billion at the beginning of the week.
The loss registered by the Indian American depository rates is mainly because of the meltdown at the US bourse and has been mostly in line with the broader market trends, analysts believe.
Among these firms, about half a dozen IT and ITeS firms together lost more than four billion dollars in their market value during the week.
However, Internet firm Sify Technologies posted a modest gain of about three million dollars.
While Wipro shed $1.69 billion, Satyam Computer Services saw a drop of $938 million in its valuation and Patni Computers witnessed a decline of $72 million.
Besides, ADRs of outsourcing firms Genpact, WNS and EXLService and that of Rediff.com dropped between 4-12 per cent during the week.
India's two largest private sector lenders -- ICICI Bank and HDFC Bank -- together saw their market cap plunging by nearly two billion dollars.
ICICI Bank dropped 8.6 per cent during the week, with the market capitalisation declining by $1.19 billion. HDFC Bank fell by six per cent, while its valuation decreased by $810 million.
Tata Motors lost $489 million, while Tata Communication shed $266 million during the week ended October 5.
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