US indices sag; Indian ADRs bounce back

The US indices ended lower for yet another day on the Wall Street yesterday. The Dow Jones industrial average and the Nasdaq declined nine points each to 11,420 and 2,229, respectively.

The Indian ADRs, however, bounced back after a heavy fall on Monday. ICICI Bank and Dr.Reddy's surged nearly 5% each to $29.06 and $35.20, respectively. Patni Computers soared 4.6% to $16.68. MTNL, VSNL and HDFC Bank were up 1-3% each.