Reliance, Bajaj Auto GDRs gain

ADR/GDR REPORT

Indian global depository receipts (GDRs) traded firm in mid-trading session on Tuesday in London.

The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, rose 6.08 per cent to trade at 1,091.57 (till 5:00 PM IST).

Reliance Industries GDR rose 9.59 per cent to $30.5. Bajaj Auto's GDR surged 5.05 per cent to $26. SBI's GDR jumped 4.25 per cent to $33.1. On Monday, the ISDI rose 6.08 per cent to settle at 1,091.57 while the price-earning ratio touched 21.19.

Key Asian markets were on a roll on Tuesday on impressive gains on the Wall Street on Monday. Japan's benchmark, the Nikkei 225 average (in a shortened session) (half-day) jumped 1.68 per cent to 10,676.64.

The broader Topix rose 1.7 per cent to 1,043.69. In Australia, the S&P/ASX200 finished 0.4 per cent ahead to 3,295.1, a two-month high and a gain of 10 per cent for the year. In Seoul, the Kospi climbed 2.31 per cent to 810.71. In Taiwan, the Taiex gained 1.07 per cent to 5,866.75.

On Monday, the Nasdaq composite leaped up 33.34 points or 1.7 per cent to 2,006.48, closing above 2,000 for the first time since January 15, 2002, when the index ended at 2,000.91.

The Dow Jones industrial average jumped 125.33 points or 1.2 per cent to 10,450.00 and the S&P 500 edged up 13.59 points to 1,109.48.

Indian securities listed on the US markets too settled higher. Infy, the Infosys Technologies ADR rose $4.22 to $91.50. IBN, the ICICI Bank ADR jumped $2.23 to $17.91. Wit, the Wipro ADR surged $2.92 to $48.6.

While Sify, the Satyam Infoway ADR climbed 16 cents to $5.10. Redf, the Rediff.com ADR added 31 cents to $5.87 and RDY, the Dr Reddy's Labs ADR vaulted 46 cents to $32.14. But VSL, the VSNL ADR eased down 5 cents to $6.60. HDB, the HDFC bank ADR tumbled 53 cents to $32.57.