Infosys ADRs slip 2.68%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.56 per cent to 1,081.15 on April 8, 2004 in early morning trades in the western markets.

Among ISDI global depository receipts, five advanced, one remained unchanged and one lost ground. The major gainers were ITC, up 3.54 per cent to $27.75, Ranbaxy, up 3.21 per cent to $25.75 registering volume of 141,157 GDRs, and L&T, up 1.45 per cent to $27.90. The only loser was Hindalco, down 0.46 per cent to $32.65 registering volume of 1,500 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively traded companies, closed down 1.15 per cent to 1077.49 on the previous day and was trading at a price to earnings multiple of 18.82 (down by 1.60 per cent).

Among ISDI ADRs, one advanced and seven lost ground and among the ISDI GDRs and ADRs, there were 10 losers and four gainers and one ruled steady. The only gainer was MTNL up 2.15 per cent to $8.06.

The major losers were Satyam Computer, down 6.14 per cent to $21.40, Wipro, down 5.99 per cent to $41.44 and Infosys, down 2.68 per cent to $83.27.

The GDRs of Ranbaxy Labs and Larsen & Toubro firmed up to $25.60. and $27.90 respectively compared with $25.08 and $27.53 previously.

Meanwhile, boosted by upbeat forecasts from leading technology companies, stocks are set to jump at Thursday's open. Standard & Poor's 500 stock index futures for June were up 6.90 points at 1,149.10, while Nasdaq futures for the same month were up 15.50 points at 1,505.50.

In the Asian markets, Tokyo's Nikkei average edged up 0.6 per cent to end at another 32-month high on Thursday. Buoyant technology stocks lifted European shares on Thursday, with the FTSE Eurotop 300 index of pan-European blue chips up 0.8 per cent, as positive news from Asian and US sector peers raised hopes of increased spending.

The Dow Jones industrial average closed down 90.66 points, at 10480.15 on Wednesday. The Standard & Poor's 500 Index finished down 7.65 points, at 1,140.51. The technology-focused Nasdaq Composite Index fell 9.66 points, to 2,050.24.