Wednesday, December 12, 2007

Indian ADRs end lower

U.S. stocks tumbled on Tuesday (December 11) after the Federal Reserve lowered interest rates by a quarter point, disappointing investors who hoped the central bank would move more aggressively to help the economy overcome the credit and mortgage crisis.

The Dow Jones industrial average fell 294.26 points, or 2.14%, to 13,432.77 after dropping as much as 313.29.

The NASDAQ composite index fell 66.60 points, or 2.45%, to 2,652.35.

The yield on 10-year treasury note, which moves opposite the price, fell to 3.97% from 4.16% late Monday.

Indian ADRs followed their US counterparts ending with losses.

Losers:




Company USD % Decline
Cognizant 33.92 1.4
ICICI Bank 63.09 1.99
Infosys 43.74 4.02
Satyam 26.29 7.33
Sterlite 26.68 2.81
Tata Motors 19.33 0.82
HDFC Bank 135.35 2.44
Wipro 14.83 5.18
Dr Reddy 17.00 0.12
VSNL 31.22 5.16
Patni Computers 17.62 3.77

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