Wall Street rebounds; ADRs mixed

The US markets rebounded last night after Ben Bernanke said that the economy is poised to grow moderately.

The Dow Jones industrial average moved up 52 points to 12,269. The Nasdaq added eight points to 2416.

Indian ADRs, however, ended on a mixed note. ICICI Bank and HDFC Bank rallied 5% each to $38.36 and $66.36, respectively. VSNL and Tata Motors surged over 2.5% each to $16.82 and $18.51, respectively. Infosys moved up 1.4% to $54.26.

On the other hand, Patni Computers plunged over 5% to $21.92. Wipro and MTNL dropped around 1.5% each to $15.86 and $5.98, respectively. Satyam and Dr.Reddy's were down over 1% each to $21.57 and $15, respectively.