Selective gains for ADRs; Oil soars to $63.36/bl

The Wall Street ended lower amid soaring oil priced and fears of a higher interest rates. The Dow dropped 28 points to 11,026, and the Nasdaq was down four points at 2311. The US crude oil futures for April delivery surged $1.39 to settle at $63.36 a barrel on the NYMEX.

The Nikkei has plunged 136 points to 15,773. The Hang Seng is almost flat at 15,887.

The Indian ADRs posted selective gains. VSNL soared nearly 4% to $17.08. MTNL surged 1.9% to $14.37. Wipro added 1.8% to $14.37, and Dr.Reddy's advanced 1.6% to $29.46. ICICI Bank slipped 1.3% to $31.84.