SBI GDR up 1.12 %

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.41 per cent to 835.04 on July 15 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), two advanced and five lost ground.

The gainers were""SBI, up 1.12 per cent to $22.50, registering volume of 7,500 GDRs and Reliance, up 0.53 per cent to $18.90, registering volume of 14,700 GDRs. The major losers were""Bajaj Auto, down 2.92 per cent to $18.30, registering volume of 30,888 GDRs, ITC, down 1.33 per cent to $22.20, registering volume of 30,000 GDRs and Larsen & Toubro, down 1.25 per cent to $15.80.

The ISDI, which tracks the ADRs and GDRs of 15 actively-traded scrips, closed up 0.02 per cent to 834.18 on the previous day and was trading at a price to earnings multiple of 15.18 (up by 0.30 per cent).

Among ISDI ADRs, six advanced, one remained unchanged and one lost ground and among the ISDI GDRs and ADRs, there were nine losers, five gainers and one ruled steady.

The major gainers were""Infosys, up 2.91 per cent to $47.71, Satyam Computer, up 2.34 per cent to $18.83, registering volume of 302,800 ADRs and MTNL, up 2.10 per cent to $7.28, registering volume of 53,100 ADRs. The only loser was ICICI Bank, down 2.19 per cent to $11.59, registering volume of 222,600 ADRs.

However, the GDRs of ITC, Bajaj Auto and Reliance dropped to $22.40, $18.67 and $18.86, respectively, from $24.20, $20.15 and $19.68, previously.

Meanwhile elsewhere in the world Asian technology shares sank on Thursday after some downgradings of key corporates, though bargain hunting later in the day lifted the stocks to some extent.

Japan's Nikkei stock average closed 0.46 per cent higher at 11,409.14 but the broader TOPIX index ended down 0.03 per cent at 1,151.12.

Oil prices hit six-week highs as concerns over security of supplies were heightened by a surprise fall in key fuel stockpiles in the United States.

European shares were set to open lower, taking a cue from Asian tech shares as investors awaited results.