Dow zooms 111pts, ICICI Bank up 3%

US stocks logged gains on Friday on news that inflation may ease giving the Federal Reserve room to lower interest rates.

While the Dow average was up 111 points at 13,326, the Nasdaq Composite Index was up 28 points at 2,562.

Indian ADRs largely finished with gains yesterday. ICICI Bank zoomed over 3% to $41.97. Satyam gained over 2% to $24.62. Dr. Reddy's, HDFC Bank, Infosys and Wipro also closed with gains.