Dow soars 85 pts, tech ADRs slump

Combination of various factors - such as merger in energy, an upbeat read on housing and Apple tech stocks upgradation - led to a surge in the US markets yesterday. While the Dow Jones advanced 85 points to 10,242, the Nasdaq moved up 19 points to close at 1,951.

While tech ADRs succumbed to losses, other Indian floats fared well on the US bourses. Infosys dropped 4.26% to $61.60, and Wipro slumped nearly 4% to $18.82. Satyam ended marginally lower at $22.50.

VSNL soared 4.29% to $9.23, while HDFC Bank gained 1.69% to $42.71. ICICI Bank and MTNL were up a per cent each at $19.48 and $6.42, respectively. While Dr. Reddy's closed up a notch at $15.89, Tata Motors finished unchanged at $9.96.