SBI GDRs up 4.68%

ADR/GDR REPORT

Indian global depository receipts (GDR) traded firm in London markets on Thursday in early trades. The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, rose 0.08 per cent to 1,073.90 till (5:00 PM IST) mid-trading session on February 12 at 5:00 PM IST.

SBI's GDR rose 4.68 per cent to $42.50. Larsen & Toubro traded jumped 1.09 per cent to $23.25, registering volume of 32,400 receipts. Ranbaxy's GDR rallied 0.64 per cent to $22.15, registering volume of 11,000 receipts.

However, ITC's GDR fell 1.01 per cent to $24.50. On Wednesday, the ISDI fell 0.18 per cent to 1,072.61. While the price-earning ratio tumbled 0.14 per cent to 20.52.

Elsewhere, US stocks were firmer in early trades on Thursday, building on gains made after comments from Federal Reserve chairman Alan Greenspan spurred blue chips to a 32-month high on Wednesday.

Greenspan told a House of Representatives committee that the US economy was growing vigorously but reassured investors that no interest rate hike is imminent.

His comments sparked a sharp sell-off in the dollar but lifted the Dow Jones industrial average 1.2 per cent to 10,737.70 points, its highest close since June 2001. The broader S&P 500 index rose 1.1 per cent to 1,157.76 points and the tech-heavy Nasdaq Composite index gained 0.7 per cent to 2,089.66 points.

Meanwhile, Indian securities listed on the US exchanges witnessed a mixed trend on Wednesday. Infy, the Infosys Technology ADR rose 98 cents to $89.22.

VSL, the VSNL ADR added 12 cents to $7.91. Wit, the Wipro ADR surged 20 cents to $46.44. RDY, the Dr Reddy's Labs ADR vaulted 20 cents to $28.30. Say, the Satyam Computer ADR rallied 25 cents to $24.15. HDB, the HDFC Bank ADR jumped 29 cents to $30.16 and MTE, the MTNL ADR surged 6 cents to $7.29.

But IBN, the ICICI Bank ADR fell 90 cents to $16.20.