US mkts tumble, Satyam drops 5%

Mixed quarterly earnings weighed on the US market sentiment yesterday, with tech stocks, in particular, coming under sharp correction. While Dow Jones slumped 89 points to 10,540, the Nasdaq dropped 32 points to close at 2,074.

Indian ADRs, too, bore the brunt and ended with sharp losses. Satyam tumbled nearly 5% to $21.19. While Wipro dipped 1.24% to $21.56, Infosys was down half a per cent at $63.06.

HDFC Bank and Dr. Reddy's were down a per cent each at $41.76 and $17.05, respectively. VSNL closed marginally lower at $9.82, while ICICI Bank bucked the trend with a smart gain of 2.26% at $19.45.