Indian stocks trading on American bourses added $4 billion to their cumulative market capitalisation

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in February, with private sector lender ICICI Bank accounting half of the total gains.

ICICI Bank led the pack, with a gain of $2.05 billion to its total market capitalisation to $21.31 billion, among the 16 Indian entities listed on the New York Stock Exchange and Nasdaq.

Next in the line is IT bellwether Infosys Technologies, whose valuation jumped by $1.61 billion to $32.47 billion.

Out of 16 companies trading as American Depository Receipts (ADRs), half of the companies including private sector lender HDFC Bank and Tata Group companies – Tata Motors and Tata Communications – have witnessed a value erosion of $658.

ADRs are bought and sold on American markets just like stocks and are issued in by a bank or a brokerage firm.

HDFC Bank was the major loser during the month as the company saw its valuation falling by $312 million to $18.47 billion.

HDFC Bank is followed by Tata Communications whose market capitalisation plunged by $265 million to $1.77 billion.

Meanwhile, copper producer Sterlite Industries' valuation rose by $269 million to $14.19 billion, while that of outsourcing company Genpact grew by 215 million to $3.28 billion.

In addition, IT firms Wipro and Mahindra Satyam (formerly known as Satyam Computer Services) together gained $394 million to their total market capitalisation.

Market capitalisation of Wipro and Mahindra Satyam increased by $205 million and $189 million, respectively.

Further, pharma major Dr Reddy's Laboratories saw a growth of $170 million to its total market capitalisation and IT company Patni Computer Systems'valuation went up by $20 million.

Among other ADR losers are internet firms – Sify Technologies and Reddif.com – Tata Motors, telecom major Mahanagar Telephone Nigam and BPO companies WNS Holdings and EXLService Holdings whose valuation slipped in the range of $1 million to $100 million.

On Friday the US markets ended in the green, with Dow Jones Industrial Average ending up 4.23 points at 10,325.26 and the S&P 500 settling up 1.56 points to 1,104.49. Besides, tech heavy Nasdaq was up 4.04 points at 2,238.26.