Indian ADRs in a sea of red

Mirroring the fall in the US indices the Nikeei has declined 138 points to 15,763. The Hang Seng, however, is up 24 points at 15,835.

The Wall Street slumped overnight owing to fears of rising interest rates. The Dow dropped 63 points to 10,959, while the Nasdaq shed 17 points to 2286. The US crude oil futures for April delivery plunged $1.26 to settle at $62.41 a barrel on the NYMEX on hopes that OPEC would not cut production.

The Indian ADRs ended in a sea of red. Satyam slipped nearly 5% to $40.30. MTNL and VSNL plunged over 4% each to $6.70 and $16.72, respectively. Infosys, Wipro, ICICI Bank and HDFC Bank ended with huge losses of 2-3% each.