Wall St rallies on Fed rate cut; ADRs shine

Wall Street registered its biggest ever gain in the last five years. The US Federal Reserve cut interest rates by 75 basis points to 2.25%.

The Dow Jones industrial average rallied 420 points to 12,393. The Nasdaq surged 91 points to 2,268.

Indian ADRs, too, ended with smart gains. Tata Communications zoomed 25.7% to $29.55. Infosys, Satyam, Wipro, Patni Computers, ICICI Bank, HDFC Bank, MTNL and Tata Motors gained 4-12% each.