Wall St surges; ADRs gain

The US stocks rallied smartly with the Dow closing at record levels for the second straight day on hopes that the Federal Reserve may not hike rates any time soon. The Dow Jones industrial average index surged 123 points to 11,851. The Nasdaq soared 47 points to end at 2291.

Indian ADRs also ended with gains. HDFC Bank rallied 2.5% to $61.65. Satyam, ICICI Bank, VSNL and Tata Motors advanced 1-2% each to $39.71, $31, $17.56 and $19.14, respectively.

The crude oil futures for November delivery gained 73 cents to settle at $59.75 per barrel on the NYMEX.