US mkts slump, VSNL drops 5%

US markets tumbled sharply on Tuesday following weakness in tech stocks and concerns over rising crude oil prices. While Dow Jones slumped 59 points to 10,745, the Nasdaq declined 16 points to close at 2,035.

Indian floats were largely disappointing yesterday. Satyam lost nearly 2% to $23, and Infosys closed down a tad at $74.65. Wipro, however, gained a per cent to $21.24.

VSNL dropped 4.51% to $9.31. While HDFC Bank declined 1.88% to $46.40, Tata Motors and MTNL were down a per cent each at $10.51 and $7.18, respectively. While Dr. Reddy's, too, ended weak at $17.17, ICICI Bank, however, added 1.37% to $20.77.