ADRs: Banking, IT, VSNL see big fall
New York: It was a mixed week for the US bourses with S&P-500 and Nasdaq slipping by 0.5 per cent and 0.6 per cent respectively while Dow gained 0.2 per cent. The domestic bourses experienced a hammering following heavy withdrawals by foreign institutional investors, with the BSE Sensex slumping 3.04 per cent and the NSE's CNX Nifty by 3.16 per cent.

Most of the Indian ADRs witnessed a correction with HDFC Bank and ICICI Bank being the major losers. Tech counters witnessed sharp declines with Infosys slipping to $74.9801 ($75.85), a drop of 1.14 per cent. Satyam slumped 4.6 per cent to $37.39 ($39.19), Wipro by 5.8 per cent to $13.71 ($14.55) and Patni Computer by 4.16 per cent to $19.12 ($19.95).

Dr. Reddy's Laboratory, the lone gainer during the week, finished firmly at $32.4 against the previous week close of $31.75. The company announced that it received the US FDA approval for allergy drug fexofenadine hydrochloride tablets.

VSNL and MTNL were the other major losers, with MTNL down sharply at $8.13 ($8.60) after touching a 52-week high at $9.16. VSNL crashed by over 10 per cent at $19.23 ($21.5).
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