Indian companies trading on the American bourses witnessed their market capitalisation jumping by about $8 billion during the week ended April 3, amid strong global cues.
Among the 16 Indian stocks listed on the New York Stock Exchange and the Nasdaq, IT bellwether Infosys Technologies added $1.8 billion to its market valuation. The valuation of another IT major Wipro climbed by $1.52 billion.
For the week ended April 3, these Indian shares trading as American Depository Receipts (ADR) gained $7.6 billion in market capitalisation.
American markets saw a significant rally last week following the G-20 leaders decision to come up with $1.1 trillion stimulus package to boost the global economy.
On April 2, the benchmark Dow Jones Industrial Average had even crossed the psychologically-important 8,000 level.
The market valuation of private sector lenders -- HDFC Bank and ICICI Bank -- together shot up more than $2.3 billion for the week ended April 3.
HDFC Bank's market capitalisation rose by $1.25 billion whereas that of ICICI Bank rose by $1.13 billion.
The 16 Indian ADRs added about $9 billion to their total market valuation in March.
Leading copper producer Sterlite Industries and auto maker Tata Motors saw their respective valuations increase by $482 million and $455 million, respectively.
Another Tata Group entity telecom major Tata Communications witnessed its valuation grew by $242 million.
Further, pharma major Dr Reddy's Laboratories gained $223 million.
Crisis-ridden Satyam Computer Services and outsourcing company Genpact also managed to add $168 million and $127 million, to their respective valuations.
Telecom major Mahanagar Telephone Nigam (MTNL) valuation remain unchanged at $888.3 million.
Out of the 16 ADRs, internet firm Rediff.com recorded a decline in its market capitalisation. The entity's value dropped by $5 million.
Meanwhile, IT company firm Patni Computer System, internet firm Sify Technologies; BPO entities WNS Holdings and EXLService saw their market valuation rise in the range of $2 million to $80 million.
During the week, the benchmark Dow Jones Industrial Average and S&P 500 gained more than three per cent. On Friday last, the Dow went up by nearly 40 points to close at 8,017.59 points.
