SBI GDR up 0.23 per cent

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.72 per cent to 831.65 on July 14 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), two advanced, two remained unchanged and three lost ground.

The gainers were SBI, up 0.23 per cent to $22.25, registering volume of 7,100 GDRs and Hindalco, up 0.09 per cent to $22.92. The losers were ITC, down 7.02 per cent to $22.50, registering volume of 1,751 GDRs, Bajaj Auto, down 6.68 per cent to $18.85, registering volume of 5,300 GDRs and Reliance, down 1.05 per cent to $18.80, registering volume of 19,450 GDRs.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, edged up by 0.56 per cent to 834.02 on the previous day.

The ISDI P/E ratio also inched up by 0.96 per cent to 15.13 from 14.99. Among the ISDI GDRs and ADRs, there were six gainers, six losers and three ruled steady and among ISDI ADRs, five advanced, two remained unchanged and one lost ground.

The major gainers were Infosys, up 5.51 per cent to $46.36, Satyam Computer, up 4.25 per cent to $18.40, registering volume of 218,700 ADRs and Wipro, up 2.78 per cent to $15.54, registering a volume of 487,800 ADRs. The only loser was Dr Reddy's, down 0.70 per cent to $17.03, registering volume of 105,800 ADRs.

However, GDRs of ITC, Reliance and Bajaj Auto fell to $23.00, $19.16 and $19.76, respectively, from $24.20, $19.68 and $20.15.

US stock index futures pointed to a lower market open on Wednesday, with a disappointing outlook from the world's biggest chip maker, Intel Corp, weighing on technology stocks.

S&P 500 futures for the September contract fell 4.7 points to 1,109.50, or 4.6 points below fair value, accounting for dividends, interest rates and time to expiration on the contract, indicating that underlying index may fall 0.4 per cent at the open.

The technology sector has a 16.6 per cent weightage within the benchmark S&P 500 index, second only to financial stocks, which account for 20.5 per cent of the index.

Dow Jones industrial index futures fell 37 points, while Nasdaq 100 futures dropped 13 points.