Wall St slips, Indian ADRs shine

The US indices dropped for the second consecutive day yesterday. The Dow Jones industrial average slipped 27 points to 11,098. The Nasdaq dropped 14 points to 2,159.

The Indian ADRs ended with smart gains. VSNL surged 5.4% to $17.90. MTNL and Tata Motors gained over 4% each to $7.08 and $17.51, respectively. ICICI Bank and Dr.Reddy's were up over 1% each. HDFC Bank, however, declined 2.7% to $54.29.

The crude oil futures for July delivery rose $1.80 to settle at $71.76 per barrel on the NYMEX.