Indian stocks trading on American bourses lost USD 3.85 billion (around Rs 18,000 crore)

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from their total market valuation last week, with HDFC Bank and Sterlite Industries leading the pack.

Private sector lender HDFC Bank and copper producer Sterlite Industries accounted for more than half of the total losses, shedding USD 2.15 billion from their total valuation during the week ended December 11.

HDFC Bank's valuation plunged by USD 1.14 billion to USD 18.61 billion, while that of Sterlite Industries declined by USD 1.01 billion to USD 15.36 billion in the last week.

Another major loser was ICICI Bank, which saw its market cap falling by USD 896 million to USD 20.39 billion in the week.

IT major Wipro and telecom company Tata Communications Ltd (TCL) too suffered significant losses in their valuations.

The market capitalisation of Wipro declined by USD 731 million to USD 29.23 billion while TCL's valuation dipped USD 210 million to USD 2.18 billion in the last week.

ADRs are bought and sold on American bourses just like stocks and are issued by US banks or brokerage firms.