SBI GDR up 0.78%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.17 per cent to 990.38 on October 8, in early morning trades. Among ISDI global depository receipts (GDRs), three advanced and four lost ground.

The gainers were SBI, up 0.78 per cent to $26.00, registering volume of 1,250 GDRs, Bajaj Auto, up 0.32 per cent to $22.27 and Hindalco, up 0.27 per cent to $29.50, registering volume of 4,000 GDRs.

The losers were L&T, down 1.89 per cent to $18.15, registering volume of 60,000 GDRs, Reliance, down 1.19 per cent to $24.95, registering volume of 750 GDRs and Ranbaxy, down 1.04 per cent to $23.75, registering volume of 33,000 GDRs.

Among ISDI ADRs, four advanced and four lost ground and among the ISDI GDRs and ADRs, there were nine gainers and six losers. The major gainers were Wipro, up 2.43 per cent to $20.65, HDFC Bank, up 0.52 per cent to $32.75 and VSNL, up 0.40 per cent to $7.53.

The major losers were ICICI Bank, down 5.02 per cent to $13.99, Satyam Computer, down 2.37 per cent to $24.35 and Dr Reddy's Labs, down 0.77 per cent to $16.67.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, eased further by 0.54 per cent to 994.09 on October 7 as against the previous level of 999.50.

The ISDI price to earnings multiple also edged down by 0.52 per cent to 18.03 from 18.12, previously. The GDRs of Hindalco and Ranbaxy also looked up to $30.00 and $23.90, respectively, from $29.42 and $23.50, previously. The GDR of L&T also eased to $18.35 from $18.50, previously.

Meanwhile, US stock futures pointed to a higher opening on Wall Street on Friday as oil prices held below a record high. Dow Jones industrial index futures rose 20 points, while Nasdaq 100 futures were up 4.5 points.

On Thursday, the Dow Jones industrial average fell 1.1 per cent at 10,125.4 points, and the tech-laced Nasdaq Composite shed 1.1 points to 1,948.5 points.