Financial Daily from THE HINDU group of publications
Monday, Apr 25, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 25, 2005 |
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Markets
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Stock Markets Columns - ADR Watch Infy recovers K.S. Badri Narayanan
IT was a volatile week for both the US and Indian markets, as they witnessed some tense moments in early part of the week. But benchmarks at these markets recovered to end the week on a positive note. The Dow Jones Industrial Average gained 0.70 per cent, the S&P 500 added 0.83 per cent while the tech-heavy Nasdaq climbed 1.26 per cent. The sagging sentiment at the domestic bourses got a booster dose first from the Met department, which predicted near normal monsoon for the current year, and then from Satyam Computer and Wipro, which have reported impressive performance and growth projections. But among the ADRs, Infosys, which was battered following its cautious outlook, was the best performer following the Satyam and Wipro announcements. Both of them also finished on firm note at $22.55 ($22) and $19.6 ($18.34) respectively. Dr. Reddy's Lab was the sole loser which declined to $15.87 against the previous week close of $16.6. It was marginal gain for the rest of them.
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