US markets finished lower on Wednesday (Apr. 09, 2008) after oil prices touched new record high and a poor profit forecast from United Parcel Service renews concern about the economy.
Oil price set another record by touching USD 112 a barrel for the first time in the futures market on Wednesday.
The Dow Jones industrial average fell 49.18, or 0.39%, to 12,527.26. The Nasdaq declined 26.64, or 1.13%, to 2,322.12.
Indian ADRs also felt the pinch of rising oil prices and concern about the US economy. Out of the total ADRs only ICICI Bank, HDFC Bank and Patni Computers advanced.
Losers:
| Company | USD (Price) | % Chng |
| Sterlite Industries India | 19.41 | 0.72 |
| Rediff.com | 8.45 | 4.02 |
| WNS (Holdings) | 17.15 | 3.98 |
| Wipro | 11.38 | 3.89 |
| Infosys Technologies | 36 | 1.64 |
| Satyam Computer | 22.46 | 4.38 |
| Tata Motors | 15.44 | 1.53 |
| Tata Communications | 24.63 | 3.34 |
| MTNL | 5.05 | 0.59 |
| Dr. Reddy`s | 14.52 | 3.01 |
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