Bajaj Auto GDR looks up

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.78 per cent to 805.73 on Wednesday in early morning trades. Among ISDI global depository receipts (GDRs), two advanced, three remained unchanged and two lost ground.

The gainers were Bajaj Auto, up 2.46 per cent to $20.00 registering a volume of 1,000 GDRs, and Ranbaxy Laboratories, up 1.04 per cent to $19.45 registering a volume of 103,495 GDRs.

Among major losers were State Bank of India, down 6.82 per cent to $20.50 registering volume of 88,269 GDRs, and Reliance Industries down 3.06 per cent to $18.71 registering volume of 67,600 GDRs.

The ISDI, which represents the GDRs and American depositary receipts of 15 actively traded companies, eased by 0.29 per cent to 811.41 on June 22 as against 813.74 on the previous day.

The ISDI P/E ratio moved up by 0.41 per cent to 15.06 as against 14.99 previously. Among the ISDI ADRs, four advanced and four lost ground and among the ISDI GDRs and ADRs, there were six gainers, eight losers and one ruled steady.

Among major gainers were Mahanagar Telephone Nigam Ltd, up 2.60 per cent to $6.70 registering a volume of 36,500 ADRs, Satyam Computer, up 2.58 per cent to $17.86, registering a volume of 135,100 ADRs and VSNL, up 1.77 per cent to $6.31 registering volume of 96,500 ADRs.

Major losers were HDFC Bank, down 3.32 per cent to $27.35 and a volume of 55,900 ADRs, ICICI Bank down 1.14 per cent to $12.17 and a volume of 206,300 ADRs.

The GDRs of Reliance and ITC fell to $19.24 and $19.75, respectively, as against $19.68 and $20.17, previously.

Meanwhile, US stocks opened lower on Wednesday as a lack of economic data and caution before next week's Federal Reserve interest rate decision kept investors in a wait-and-watch mode.

The Dow Jones Industrial Average opened down 19.39 points, or 0.19 percent, to 10,352.08. The Standard & Poor's 500 Index declined 0.39 point, or 0.03 percent, at 1,134.02. The Nasdaq Composite Index opened down 1.79 points, or 0.09 percent, at 1,992.36.