SBI GDRs up 4.49%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) gained 2.86 per cent to 1,069.18 on February 9 in early morning trades in the western markets. Among ISDI global depository receipts, five advanced and two lost ground.

The major gainers were State Bank of India up 4.49 per cent to $40.75 registering volumes of 126,155 GDRs, followed by Reliance up 2.60 per cent to $31.60 with volumes of 256,510 GDRs and Ranbaxy up 2.11 per cent to $24.15 with volumes of 26,790 GDRs.

The only losers were Bajaj Auto down 1.44 per cent to $23.60 followed by L&T down 0.85 per cent to $22.20 with volumes of 4,000 GDRs.

The ISDI, which represents ADRs and GDRs of 15 actively-traded companies closed up 2.39 per cent to 1,065.25 on the previous day and was trading at a price to earnings multiple of 20.39 (up by 2.39 per cent).

Among the ISDI American depository receipts, seven advanced and one lost ground. Among the ISDI ADRs and GDRs, there were eleven gainers and three losers and one ruled steady.

The major gainers were HDFC Bank up 7.53 per cent to $30.26 registering volumes of 169,400 ADRs, followed by MTNL up 5.31 per cent to $7.14 with volumes of 94,600 ADRs and ICICI Bank up 4.57 per cent to $16.70 with volumes of 853,100 ADRs. The only loser was Wipro down 0.27 per cent to $47.62 registering volumes of 108,200 ADRs.

However, GDRs of Ranbaxy Labs and Bajaj Auto eased to $21.90 and $23.60, respectively, from $22.25 and $23.75, previously.

Meanwhile, elsewhere in the world, the Nasdaq composite went up 44.45 points (2.2 per cent) to 2,064.01, the Standard & Poor's 500 gained 14.17 points (1.25 per cent) to 1,142.76 while the Dow Jones Industrial Average surged 97.48 points (0.9 per cent) to 10,593.03.