Bajaj Auto GDR up 1.82%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.30 per cent to 869.76 on May 26 in early morning trades in the western markets. Among ISDI global depository receipts, (GDRs) one advanced, one remained unchanged and five lost ground.

The only gainer was Bajaj Auto, up 1.82 per cent to $19.60. The major losers were ITC, down 3.44 per cent to $20.75, Hindalco, down 3.22 per cent to $21.05 and SBI, down 1.75 per cent to $28.00.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded companies, inched up further by 0.65 per cent to 872.90 on the previous day. The ISDI P/E ratio also edged up by 0.72 per cent to 15.88 as against 15.77, previously.

Among ISDI ADRs, six advanced and two lost ground and among the ISDI GDRs and ADRs, there were seven gainers, seven losers and one ruled steady.

The major gainers were HDFC Bank, up 7.18 per cent to $28.35, Dr Reddy's, up 4.17 per cent to $20.00 and Satyam Computer, up 2.78 per cent to $19.94. The losers were Wipro, down 1.63 per cent to $43.51 and Infosys, down 0.10 per cent to $83.10.

However, the GDRs of Hindalco and Reliance dropped to $21.30 and $22.94, respectively, from $21.75 and $23.40, previously.

Elsewhere in the world, US stock-index futures fell after a government report showed a bigger-than-expected drop in orders for durable goods, such as machinery and electronics.

Standard & Poor's 500 index futures expiring in June slid 1.90 to 1,110.50 in early morning trades in New York. Dow Jones industrial average futures shed 26 to 10,850 and Nasdaq-100 index futures lost 4.50 to 1,441.50.