Ranbaxy GDR lone gainer

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.70 per cent to 954.99 on Monday in morning trades.

Among ISDI global depository receipts (GDRs), one advanced, four remained unchanged and two lost ground.

The only gainer was Ranbaxy, up 0.41 per cent to $24.60. The losers were Bajaj Auto down 9.67 per cent to $19.05 and Reliance down 0.70 per cent to $22.64, registering a volume of 50,100 GDRs.

The ISDI, representing the GDRs and American depositary receipts of 15 actively-traded companies, eased by 0.85 per cent to 955.46 on September 24 as against the previous level of 963.69. The ISDI price-to-earning ratio also edged down by 0.88 per cent to 17.35 from 17.50 previously.

Among the ISDI GDRs and ADRs, there were 11 losers, one gainer and three ruled steady and among ISDI ADRs, one remained unchanged and seven lost ground.

The major losers were Wipro down 1.76 per cent to $17.28, registering a volume of 67,600 ADRs, HDFC Bank down 1.72 per cent to $31.98 and a volume of 38,900 ADRs and Satyam Computer down 1.70 per cent to $22.56, and a volume of 94,500 ADRs. The GDRs of Bajaj Auto and Reliance dropped to $19.05 and $22.80, respectively, from $21.09 and $23.30, previously.

However, the GDR of Ranbaxy Labs edged up to $24.50 from $24.30. Meanwhile, Tokyo's Nikkei edged down 0.33 per cent on Monday, falling for a seventh straight session in its longest losing streak since December 2002.

The Nikkei average lost 35.84 points to 10,859.32, its lowest close since August 18. It has lost 436 points or 3.86 per cent in the past seven trading days, its longest run of losses since it fell for nine sessions in a row between December 4 and 16, 2002.

The broader TOPIX index fell 0.65 per cent to 1,095.24, also its lowest close since August 18.

Thai stocks fell 1.2 per cent on Monday as investors sold bank shares and telecoms companies in a weak market worried by surging oil prices, analysts said.

The benchmark Stock Exchange of Thailand composite index closed down 7.82 points, or 1.19 per cent, at 646.78, its lowest since September 10.

The big-cap SET 50 fell 1.32 percent to 44.91 points.

Hong Kong blue chips fell a third of a percentage point on Monday with property shares extending losses amid worries over rising interest rates.

The blue-chip Hang Seng Index ended the day 0.34 per cent, or 44.94 points, lower at 13,021.90. The Hang Seng is up over three per cent so far this year, while the blue chip Dow Jones industrial average is down nearly four per cent.