The Instanex Skindia DR Index (ISDI) was down 0.08 to 785.32 in early morning trades in the western markets on May 18, 2004. |
Among ISDI global depository receipts, five advanced, one remained unchanged and one lost ground. |
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The major gainers were SBI (up 25.71 per cent to $26.40 registering volume of 638,050 GDRs), Reliance (up 12 per cent to $21.00 registering volume of 178,300 GDRs) and ITC (up 9.54 per cent to $21.25 registering volume of 56,220 GDRs). |
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The only loser was L&T (down 12.95 per cent to $19.50 registering volume of 55,625 GDRs). |
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The ISDI, which represents the ADRs and GDRs of 15 actively traded companies, closed down 9.22 per cent to 761.57 on May 17 and was trading at a price to earnings multiple of 13.91 (down by 9.36 per cent). |
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Among ISDI ADRs, all eight lost ground. Among ISDI GDRs and ADRs, there were 13 losers, one gainer and one ruled steady. |
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The major losers were HDFC Bank down 11.70 per cent to $22.94, VSNL down 11.50 per cent to $5.54 and Satyam Computer down 8.66 per cent to $16.78. |
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The ADRs of Wipro dropped to $37.60 ($38.80). The GDR of State Bank of India dropped to $22.40 ($28.73). |
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Meanwhile, stocks are set to open higher elsewhere in the world on Tuesday in the US, snapping back a day after fears of geopolitical instability and high oil prices sent stocks to 2004 lows, as investors sorted through a fresh batch of earnings news. |
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Stock futures were indicating a modestly higher open. Standard & Poor's 500 stock index futures for June were up 3.50 points at 1,088, while Nasdaq futures for the same month were up 5.50 points at 1,392. Dow futures were up 42 points at 9,956. |
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