Wall St rallies; ADRs surge

The Wall Street rallied on Wednesday amid Fed's comments that US inflation is likely to ease. The Dow Jones industrial average rallied 87 points to 12,742. The Nasdaq surged 28 points to 2488.

Indian ADRs sizzled - MTNL soared 4.4% to $6.62. Infosys, Satyam, Patni Computers, ICICI Bank, VSNL and Tata Motors rallied 2-4% each to $59.20, $23.48, $22.99, $43.61, $19.25 and $19.87, respectively.