Wall St slips; Oil soars over $66/barrel

The Nikkei has rallied 131 points to 16,821. The Hang Seng has declined 67 points to 15,790.

The Wall Street slipped last night after the US Federal Reserve raised the interest rates for the 15th consecutive time. But, what affected the markets was that the Federal chairman, Ben Bernake,  hinted of more rate hikes to come in the future.

The Dow dropped 96 points to 11,155, and the Nasdaq slipped 11 points to 2304. More bad news was that, the US light crude for May delivery soared 3% ($1.91) to $66.07 a barrel on the NYMEX.

Among the Indian ADRs - Wipro moved up 1.4% to $14.05, and Infosys added 0.7% to $73.59. Rest all ADRs ended in red with VSNL tumbling 1.6% to $18.92 and Dr.Reddy's slipping 1.4% to $31.17.