US indices edge higher, MTNL drops 4%

Drop in oil prices helped the US market post steady gains on Wednesday, with the GDP growth report and Microsoft earnings report set to be announced on Thursday. While the Dow Jones surged 48 points to 10,199, the Nasdaq added a mere three points to close at 1,930.

Indian ADRs, however, continued their downward trend and ended at lower levels. Infosys lost nearly 3% to $56.60. While Satyam declined 2.15% to $21.84, Wipro was down a per cent at $18.40.

MTNL dropped 4% to $6.15, and Dr. Reddy's slipped nearly 2% to $15.52. HDFC Bank, ICICI Bank and Tata Motors were down a per cent each at $42.42, $18.89 and $9.72, respectively. VSNL ended a tad lower at $9.12.