Hindalco, RIL GDRs slip

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI), which tracks 15 actively traded Indian depository receipts, shed 0.07 per cent to 1,037.36 on Wednesday till mid-trading session in London.

Among ISDI global depository receipts, three gained, one remained unchanged and three lost ground.

The global depository receipt (GDR) of Bajaj Auto jumped up 3.70 per cent to $22.40, registering a volume of 8,450 and the Larsen & Toubro GDR added 0.19 per cent to $26.30, registering a volume of 48,900.

The GDR of State Bank of India rallied 0.10 per cent to $39.49, registering a volume of 50,000. Reliance Industries fell 0.67 per cent to $29.45, a volume of 16,734 GDRs.

Hindalco slipped 0.65 per cent to $30.5, registering a volume of 23,630 and Ranbaxy was down 0.45 per cent to $22.20, a volume of 46,920 GDRs.

On Tuesday, the ISDI settled down 0.20 per cent to 1,038.05. World stocks are poised for a slightly weaker opening on Wednesday as investors wait for a report on the US services sector for indications on the health of the struggling US labour market.

Equity futures in the US pointed to a slightly weaker opening.

Futures for the Standard & Poor's 500 shed 2.30 points to 1,146.70, futures for the Nasdaq 100 eased two points to 1,471 and futures for Dow Jones Industrials lost 23 points to 10,565.

European stocks closed down lower on Wednesday. Japanese shares closed flat earlier as investors decided to take a break after a five-day rally in the Nikkei average that had lifted to a 21-month high on the previous day.

On Tuesday, the Dow Jones Industrial Average closed down 86.66 points, or 0.81 per cent, at 10,591.48. The Standard & Poor's 500 Index ended down 6.87 points, or 0.59 per cent, at 1,149.10. The Nasdaq Composite Index fell 18.14 points, or 0.88 percent, at 2,039.66.