US stocks rallied sharply on Monday sending the Nasdaq Composite to its highest level in more than six years as investors bought technology shares. Investors were also betting that Wall Street may have seen the worst of the credit squeeze after three global banks detailed expected losses from the subprime crisis. While the Dow moved up 192 points to 14,088, the Nasdaq Composite added 39 points to close at 2,741 - its highest level since February 2001. Indian tech ADRs, too, logged sharp gains yesterday. Infosys gained over 4% to close at $50.53. WNS was up nearly 5% at $18.21. Genpact, Satyam and Wipro also finished with gains. |