Dow gains 135pts, ICICI Bank zooms 11%

Expectations of another cut in interest rates by the US Fed next week saw both the major indices rally sharply yesterday.

While the Dow gained 135 points to close at 13,807, the Nasdaq Composite added 53 points to close at 2,804. For the year so far, the Dow is up 10.78% and and the Nasdaq is up 16.10%.

Indian ADRs, too, finished with gains yesterday. ICICI Bank zoomed over 11% to $64.64. HDFC Bank gained over 10% to $125.85. Satyam advanced nearly 7% to $29.84. Infosys, Wipro, Tata Motors and Genpact also moved up.