ITC GDR up 5.83%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 2.38 per cent to 849.95 on June 7 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), five advanced and two remained unchanged.

The major gainers were ITC, up 5.83 per cent to $21.25, registering volume of 927 GDRs, Reliance, up 4.94 per cent to $21.25, registering volume of 88,700 GDRs and Bajaj Auto, up 3.15 per cent to $19.65, registering volume of 1,037 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded scrips, closed up 1.42 per cent to 841.32 on the previous day and was trading at a price to earnings multiple of 15.23 (up by 1.12 per cent).

Among ISDI ADRs, seven advanced and one remained unchanged. The major gainers were Wipro, up 4.34 per cent to $42.77, registering volume of 77,700 ADRs, ICICI Bank, up 3.53 per cent to $13.20, registering volume of 440,100 ADRs and HDFC Bank, up 3.39 per cent to $27.48, registering volume of 49,000 ADRs.

Elsewhere in the world, Asian stocks surged with Japan's Nikkei 225 stock average having its biggest jump this year. There were gains in major scrips after a US jobs report bolstered optimism that consumer spending will accelerate the world's largest economy.

The Morgan Stanley Capital International Asia-Pacific Index, which tracks more than 900 stocks, advanced 3.4 per cent to 89.72. The Nikkei climbed 2.8 per cent, while South Korea's Kospi index gained 3.7 per cent. In Hong Kong, the Hang Seng index climbed to a six-week high.

In Taiwan, the Taiex index soared 3.7 per cent. Australia's S&P/ASX 200 index climbed to its highest since March 2002.

The Standard & Poor's 500 index added 4.67 points, or 0.4 per cent to 1,127.17 during early morning trades in New York.

The Dow Jones industrial average increased 46.91, or 0.5 per cent, to 10,289.73 and the Nasdaq Composite index rose 15.09, or 0.8 per cent, to 1,993.71.