Wall St rallies on hopes of rate cut

The US indices rallied on Tuesday on hopes of a rate cut next week. The Dow Jones industrial average surged 181 points to 13,308. The Nasdaq gained 38 points at 2597.

Among the Indian ADRs - VSNL soared 3.4% to $20.26, and Sterlite surged 2.5% to $15.40. Satyam and HDFC Bank were the other notable gainers. On the other hand, Patni Computers dropped 3% to $22.45, and Tata Motors slipped 1% to $16.94.