The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, fell over one per cent to trade at 498.63 on Thursday in early trades in London.
Among Indian GDRs (global depository receipts), there were three gainers, five losers and 54 unchanged. GDR of the State Bank of India edged up 0.72 per cent. While Bajaj Auto gained 0.47 per cent and Ranbaxy was up 0.07 per cent in early trades.
However, Hindalco (down 2.62 per cent), Larsen & Toubro (down 1.94 per cent), Reliance Industries (down 0.58 per cent), ITC (down 0.52 per cent), and M&M (down 0.44 per cent) traded lower. GDRs of Reliance and State Bank of India were heavily traded in the morning session today, each registering volumes of around 1,00,000 GDRs.
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On Wednesday, the ISDI declined further by 1.15 per cent to close at 500.25. While the ISDI P/E ratio also dropped by 1.17 per cent to 10.62.
Meanwhile, most Indian securities listed on the US exchanges finished lower on Wednesday. Infy, the Infosys Tech ADR, shed $1.34 to $58.90.; Wit, the Wipro ADR, dropped 29 cents to $29.44, and Say, the Satyam Computer ADR, eased 6 cents to $10.07. While Sify, the Satyam Infoway ADR, shed 8 cents to $3.38. But Redf, the Rediff.com ADR, edged up 11 cents to $2.15 and pharma major RDY, the Dr Reddy