Hindalco GDR up 1.85%

ADR/GDR REPORT

Most Indian global depository receipts traded firm in London on Thursday till mid-trading session.

The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, rose 0.07 per cent to 1,037.80. Hindalco's GDR rose 1.85 per cent to $27.50. Larsen & Toubro's GDR gained 1.14 per cent to $23.01 with 5,000 receipts traded. SBI's GDR jumped 0.96 per cent to $39.25, registering volumes of 111,056 receipts.

However, Ranbaxy's GDR fell 0.79 per cent to $22.57 registering volume of 52,890 GDRs. On Wednesday, the ISDI rose 0.75 per cent to settle at 1,040.29. While the price-earning ratio also rose 0.73 per cent to 19.92.

Meanwhile, Indian securities listed in the US were mixed on Wednesday. Infy, the Infosys Technologies ADR rose 60 cents to $86.24. Redf, the Rediff.com ADR surged 17 cents to $7.90. IBN, the ICICI Bank ADR added 6 cents to $15.92. RDY, the Dr Reddy's Labs ADR vaulted 25 cents to $29.45 and MTE, the MTNL ADR rose 7 cents to $7.17.

But Wit, the Wipro ADR (down $1.02 to $47.90) and HDB, the HDFC Bank ADR (down $1.07 to $27.72. Sify, the Satyam Infoway ADR eased down (31 cents to $6.20).

But US stocks opened firm on Thursday, after a steep drop in technology shares on Wednesday, as investors looked ahead to reports on jobless claims and productivity.

US technology stocks fell sharply on Wednesday, with the Nasdaq Composite Index marking its biggest percentage decline since September after Cisco Systems Inc's chief executive made cautious comments on the outlook for technology spending.

In Europe, shares were mixed as heavyweight energy stocks dipped after Royal Dutch/Shell's results but bullish outlooks boosted others. Overnight in Tokyo, the Nikkei average ended almost flat as jittery investors trod carefully ahead of a G7 meeting and an earnings report by Toyota Motor Corp.