Profit-taking on Wall Street; ADRs slip

The US stocks witnessed profit taking yesterday after considerable gains in the last week. The Dow industrial average slipped 58 points to 13,063. The Nasdaq plunged over 1% or 32 points to 2525.

Indian ADRs, too, ended on a weak note. ICICI Bank tumbled 8.6% to $40.92. MTNL and HDFC Bank dropped around 2% each to $7.13 and $72.63, respectively. Infosys, VSNL and Tata Motors were down around 1% each.