Dow soars 206 pts, Wipro vaults 8%

US indices witnessed sharp rally on Thursday following the positive economic news and impressive earnings reports from UPS, Nokia & other firms. While the Dow Jones vaulted 2% (up 206 pts) to 10,219, the Nasdaq soared 2.54% (up 49 pts) to close at 1,962.

Indian ADRs, notably tech stocks, joined the rally and ended with sharp gains.

Wipro, on expectations of healthy Q4 & FY05 numbers, zoomed nearly 8% to $19. Infosys and Satyam advanced nearly 5% each to $62.45 and $22.50, respectively.

ICICI Bank rose 3% to $19.31, and Tata Motors moved up 3.17% to $10. HDFC Bank also ended in the green at $42.15. Dr. Reddy's, however, dropped 2% to $16.12. VSNL and MTNL also finished weak at $8.72 and $6.36, respectively.