Information technology (IT) shares such as Infosys and Satyam Computer continue to be among the most liquid depository receipts (DRs).
Data provided by Instanex Capital on the average value traded (between January-June 30, 2003) among the 15 Instanex Skindia DR Index (ISDI) stocks reveals that Infosys, a component of ISDI, has been most traded GDR with a monthly average of between $4.50 million and $11.40 million DR.
But Deepa Masand, analyst at Instanex Capital, clarifies that major activity in GDR markets was seen in April 2003.
April was the most active month with the top 15 ISDI stocks trading at an average of $26.20 million, followed closely by January with $26.09 million and June with $25.45 million.
In April this year, Infosys, the most liquid depository receipt among the 15 ISDI members, accounted for 43.42 per cent of the average daily turnover, while Reliance accounted for 10 per cent.
Overall, Infosys accounts for 33.37 per cent of the daily turnover of the 15 ISDI companies, followed by Reliance accounting at 10.53 per cent, Dr Reddy
