Reliance GDR slips 1.90%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.81 per cent to 840.80 on June 16 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), one remained unchanged and six lost ground.

The major losers were Reliance, down 1.90 per cent to $20.70, registering volume of 26,400 GDRs, SBI, down 1.86 per cent to $23.80, registering volume of 21,557 GDRs and ITC, down 1.46 per cent to $20.80.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded scrips also closed up 1.74 per cent to 844.81 on the previous day and was trading at a price to earnings multiple of 15.38 (up by 1.85 per cent).

Among the ISDI ADRs, all eight gained ground and among the ISDI GDRs and ADRs, there were 13 gainers, one loser and one ruled steady.

The major gainers were Wipro, up 5.51 per cent to $44.84, registering volume of 73,400 ADRs, Infosys, up 3.96 per cent to $86.03 and Dr Reddy's, up 3.32 per cent to $18.68 registering volume of 107,200 ADRs.

However, the GDR of ITC eased to $20.20 from $20.25 previously.

Elsewhere in the world, US stocks opened little changed on Wednesday as investors sifted through economic data for an indication of the state of the economy and looked to quarterly earnings reports for clues on the strength of the upcoming corporate earnings season.

The Dow Jones industrial average was up 0.92 points, or 0.01 per cent, at 10,381.35. The broader Standard & Poor's 500 index was up 0.25 points, or 0.02 per cent, at 1,132.26. The technology-laced Nasdaq Composite index was up 0.58 points, or 0.03 per cent, at 1,996.18.