Bajaj, ITC GDRs rise

ADR\GDR Report

 On December 2, 2003, all Indian American depository receipts advanced. The major gainers were Satyam Computer (up 14.92 per cent to $24.11), followed by Wipro (up 7.63 per cent to $41.60) and Infosys (up 5.33 per cent to $87.48). The Instanex Skindia DR Index was up 2.78 per cent at 930.90 on December 2, 2003 and was trading at a price to earnings multiple of 18.10 (up by 3.26 per cent).

 Among the ISDI ADRs and GDRs there were 14 gainers and one ruled steady. The ADR of Satyam Computer, Wipro and Infosys Tech rose to $24.11, $41.60 and $87.48, respectively, from $20.98, $38.65 and $83.05 previously.

 Elsewhere, in the US markets there was a buoyancy in the market with the positive sentiments generated by the manufacturing index report and the retail sector. On December 1, the Nasdaq Composite went up 116.6 points to 9899 while the S&P 500 climbed 11.92 points to 1070.12.

 In the Asia-Pacific region, stock markets followed Wall Street and there was good buying in IT and other stocks.

 In Australia, for instance, the S&P/ASX200 went up 0.56 per cent to 3187.7.

 Taiwan