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The US stocks were able to reverse direction last week, thanks to liquidity dosage from the US Fed and also on news reports that US Microsoft is bidding for Yahoo.

The S&P 500 went up by 4.9 per cent for the week, the Dow Jones Industrial Average 4.4 per cent and the Nasdaq Composite Index 3.8 per cent.

The volatile domestic markets also ended in the positive territory last week, mainly due to the sharp surge on Friday. For the week ended February 2, the BSE Sensex slipped 0.65 per cent and the broad-based S&P CNX Nifty 1.23 per cent.

It was mixed trend for the Indian ADRs. Information technology counters saw sharp surge in value.

Among them, the major gainer was Infosys Technologies, whose ADR jumped 10.8 per cent. While Wipro finished with a gain of 5.8 per cent, Satyam Computer edged up 1.65 per cent. However, the US-listed Patni Computers declined by 5.35 per cent.

The ADR of Tata Motors also surged 8.4 per cent despite the company announcing lower-than-expected Q3 financial performance. It posted a net profit of Rs 499.05 crore for the quarter ended December 31, 2007, against Rs 513.17 crore for the same period last year. Total income jumped to Rs 7,346.64 crore (Rs 6,910.07 crore).

Sify was the biggest gainer as the ADR jumped 12.6 per cent to $5.25 ($4.66) even as the other Internet major Rediff.com ended on a weak note at $9.46 ($10.7), a drop of 11.6 per cent.

Telecom service providers – MTNL and VSNL – finished the week on negative note. While the former declined by 4.8 per cent, the latter by 2.5 per cent.

MTNL posted a reduced net profit of Rs 97.64 crore for the quarter ended December 31, 2007, compared with Rs 208.60 crore posted during the same quarter of the previous year.

Total Income has decreased to Rs 1,326.91 crore (Rs 1,428.03 crore). While HDFC Bank finished the week on positive note at $121 ($118.3), a gain of 2.3 per cent, ICICI Bank finished on a flat note at $62.26.

The ADR of Sterlite Industries, which posted a higher net profit of Rs 230.85 crore (Rs 214.79 crore), gained 4.3 per cent. However, Dr Reddy’s Lab declined by 6.4 per cent to $13.96 ($14.92).

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