SBI GDR up 0.46%

DERIVATIVES REPORT

The Instanex Skindia DR Index (ISDI) was up 0.06 per cent to 1,123.79 on January 17 in early morning trades. Among ISDI global depository receipts, two GDRs gained, two remained unchanged and three lost ground.

The major gainers were State Bank of India, up 0.46 per cent to $34.25 and Bajaj Auto, up 0.20 per cent to $24.50. The major losers were Ranbaxy, down 2.44 per cent to $24.00, Reliance, down 2.21 per cent to $23.79 and ITC, down 0.18 per cent to $28.35.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, edged up further by 0.20 per cent to 1,125.84 on January 14 from the previous level of 1,123.55.

However, the ISDI price to earnings ratio also inched up by 0.32 per cent to 18.01 from 17.96, previously.

Among the ISDI GDRs and ADRs, there were seven gainers, five losers and three ruled steady and among ISDI ADRs, four ADRs gained, one remained unchanged and three ADRs lost ground.

The major gainers were HDFC Bank, up 2.44 per cent to $42.00, ICICI Bank, up 1.48 per cent to $18.54 and Dr Reddy's, up 0.40 per cent to $18.49. The major losers were VSNL, down 1.77 per cent to $9.97, MTNL, down 1.26 per cent to $7.07 and Satyam, down 0.45 per cent to $22.08.

The GDR of ITC also inched up to $28.60 from $28.40, previously.

However, the GDRs of Bajaj Auto and Reliance dropped to $24.45 and $23.88, respectively, from $25.25 and $24.34, previously.

Meanwhile, elsewhere in the world, in Asia the Philippines market led gains on Monday, rising almost two per cent to a 5-year high. Singapore market ended up 0.53 per cent and Malaysia closed 0.27 per cent higher with help from firm bank stocks.

The Philippines' Composite Index rose as high as 1,914.74 points, before closing at 1,909.18, a level not seen since February 2000.