Indian ADRs lose $ 23 billion in January

In January, Indian stocks trading on American bourses witnessed their cumulative market capitalistion falling by nearly $23 billion. Infosys Technologies and Wipro which are IT biggies accounted for nearly half of the losses. In January, on New York Stock Exchange and the Nasdaq where 15 Indian entities listed lost $ 22.81 billion from their market capitalization. Total valuation of Wipro and Infosys together contains $  10.94 billion nearly. Wipro valuation plunged by $ 6.26 billion to  $ 31.29 billion where Infosys declined by $ 4.68 billion to $ 38.63 billion.