Infosys ADR slips 1.27%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 2.11 per cent to 1,086.23 on Monday in early morning trades in the western markets. Among the ISDI Global Depository Receipts, five advanced, one remained unchanged and one lost ground.

The major gainers were SBI, up 5.12 per cent to $43.10 registering volume of 6,934 GDRs; Reliance, up 4.64 per cent to $32.70 registering volume of 44,866 GDRs and L&T up 2.55 per cent to $27.80 registering volume of 6,580 GDRs. The only loser was Bajaj Auto, down 1.98 per cent to $22.25 registering volume of 2,000 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively traded companies, closed up 0.73 per cent at 1,073.85 on the previous day and was trading at a price to earnings multiple of 18.84 (up by 1.29 per cent).

Among ISDI ADRs, seven advanced and one lost ground. The major gainers were MTNL, up 3.86 per cent to $8.35; Satyam Computer, up 3.77 per cent to $22.31 and ICICI Bank, up 2.05 per cent to $16.44. The only loser was Infosys down 1.27 per cent to $82.99. The GDRs of Hindalco and L&T eased to $ 30.25 and $27.20 respectively from $30.60 and $27.48 previously.

The sanguine report on the US job markets had its echoes in the Asian stock markets where equities closed higher on Monday. The Tokyo Stock Exchange's Nikkei Stock Average rose to 22-month high, at 11958.32 up by 142.37 points. This is the highest close since May 27, 2002.

In Taiwan, shares showed an uptrend for the sixth consecutive day and the main index closed at 6682.73 up by 137.19 points. The optimism was showed in the Singapore markets as well with the Strait Times Index closing at 1890.20, up by 9.75 points.