ITC, L&T GDRs surge

ADR/GDR REPORT

Alike key Asian markets, Indian global depository receipts (GDR) too traded firm on Friday till mid-trading session in London.

The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, rose 1.59 per cent to 960.57 on Friday till 5:00 PM IST.

ITC's GDR rose 3.00 per cent to $22.65, registering volumes of 10,000 receipts. Larsen & Toubro's GDR surged 0.85 per cent to $19.56.

State Bank of India's GDR climbed 0.17 per cent to $29.95. However, Hindalco's GDR fell 0.85 per cent to $29. Bajaj Auto's GDR plunged 0.44 per cent to $22.40 and Reliance Industries GDR shed 0.08 per cent to $24.80.

On Thursday, the ISDI settled up 1.97 per cent to close at 960.75. While the ISDI price-earning rose 2.03 per cent to 18.61.

Asian stocks were on the roll on Friday on strong overnight rally in the US markets. In Tokyo, the benchmark Nikkei 225 average gained 0.9 per cent at 10,169.66 and the broader Topix climbed 0.78 per cent to 998.70.

In Seoul, the Kospi gained almost 2 per cent as blue chips came strongly into focus. Notably, Kookmin Bank surged 5.1 per cent on improved business outlook.

Hong Kong's Hang Seng moved up 0.77 per cent near close. And Singapore's Straits Times index nudged up 0.5 per cent late in the bourse's trading day.

On Thursday, the US markets surged on a strong retail sales report. The Dow Jones industrial average crossed the 10,000-mark for the first time since May 24, 2003. It rose 86.30 points to 10,008.16.