Dow soars 71 pts, Indian ADRs tumble

Declining oil prices and signs of strong earnings report saw the major US indices, particularly the Dow Jones, notch up significant gains on Thursday. While the Dow Jones ended at a new four-year high at 10,629 (up 71 pts), the Nasdaq added nine points to close at 2,153.

Indian floats, however, were battered yesterday. Infosys lost 2% to $69.38. While Satyam slipped 1.39% to $26.19, Wipro dipped 1.63% to $20.51.

ICICI Bank dropped 3.84% to $23.27, and VSNL slumped 3.74% to $14.40. HDFC Bank, Dr. Reddy's, Tata Motors and MTNL lost between 1-2%.