State Bank GDR up

ADR/ GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 2.66 per cent to 959.31 on Friday in morning trades. Among ISDI global depository receipts (GDRs), five advanced and two lost ground.

The major gainers were Reliance Industries up 5.49 per cent to $23.45 registering a volume of 30,300 GDRs, State Bank up 4.45 per cent to $24.65 and a volume of 47,500 GDRs and ITC up 4.05 per cent to $24.66.

The losers were Ranbaxy down 0.58 per cent to $24.10, registering a volume of 2,229 GDRs and Bajaj Auto down 0.55 per cent to $20.07.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, recovered sharply by 2.04 per cent to 951.37 on September 16 as against the previous level of 932.38.

The ISDI price-to-earnings ratio also firmed up by 2.13 per cent to 17.27 from 16.91 previously.

Among the ISDI GDRs and ADRs, there were 14 gainers and one loser and among ISDI ADRs, seven advanced and one lost ground. The major gainers were MTNL up 6.26 per cent to $6.79 and a volume of 149,500 ADRs, ICICI Bank up 5.02 per cent to $13.40 and a volume of 148,900 ADRs and Wipro up 2.87 per cent to $17.95 and a volume of 97,500 ADRs.

The only loser was HDFC Bank down 0.44 per cent to $29.57 and a volume of 66,300 ADRs.

The GDR of ITC also hardened to $24.66 from $23.70.

Meanwhile, the Nikkei Average fell for a third straight session to hit a two-week closing low on Friday as renewed earnings concerns prompted selling in blue chip stocks.

The Nikkei fell 0.51 per cent or 56.87 points to 11,082.49, its lowest close since September 3, when it ended at 11,022.49.

The broader TOPIX Index gave up 0.31 per cent to 1,118.55, its lowest close since August 24.

Hong Kong's leading share index, the Hang Seng, inched higher to close at a fresh six-month high on Friday, ending up 0.11 per cent at 13,224.93, its highest level since March 9.