The Skindia GDR Index (SGI), which represents GDRs of 15 actively-traded companies, fell by around two per cent to 481.25 during early trades on Tuesday till 5:00 pm local time.
Infosys, which was down 7.33 per cent to $63.50 for the second consecutive day, led the decline among SGI stocks.
Among Indian depository receipts, there were 6 gainers and 19 losers, while 47 others remained unchanged. The biggest gainers were Spic (up 8.33 per cent to $0.65), SAIL (up 4.59 per cent to $2.85) and Tata Tea (up 2.86 per cent to $3.60).
On Monday, the SGI slipped further by 1.64 per cent to settle at 481.34. The SGI P/E ratio also dropped further by 1.70 per cent to 10.02.
Indian securities listed on the US market also settled lower on Monday. Infy, the Infosys ADR, headed the sell-off, with a loss of $5.02 to $63.50. Wit, the Wipro ADR shed $1.44 to $32.07. Tech major Say, the Satyam Computer ADR, slipped 22 cents to $13.10. SLT, the Silverline Tech ADR (down 9 cents to $1.07) also detracted.
Among banking stocks, HDB, the HDFC Bank ADR was down 13 cents to $12.54. However, IBN, the ICICI Bank ADR bucked the weak trend and was the only ADR to settle higher. The stock settled up 2 cents to $5.81.
Among telecom stocks, VSL, the VSNL ADR closed down 8 cents to $4.09 and MTE, the MTNL ADR, settled down 20 cents to $4.20. RDY, the Dr Reddy
