Business Daily from THE HINDU group of publications
Monday, Nov 05, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Nov 05, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Markets
-
Commentary Columns - ADR Watch
US stocks were caught between mixed cues last week. While on the one hand better-than-expected jobs report fuelled optimism, on the other, renewed worries over sub-prime affected sentiment, particularly for bank stocks. The S&P 500 slipped 1.7 per cent, the Dow average retreated 1.5 per cent while the tech-focussed Nasdaq added 0.2 per cent for the week ended November 2. However, the Indian bourses maintained their winning streak; thanks to strong buying, the BSE Sensex scored a smart gain of 3.81 per cent and the S&P CNX Nifty, which crossed the crucial 6,000-level for the first time ever during intra-week, ended with a gain of 4.04 per cent. Despite strong show by domestic exchanges, it was a mixed show by Indian ADRs. Banking counters — HDFC Bank and ICICI Bank — continued to be resilient and both registered their new peaks of $139.37 and $69.84 respectively. They closed at $135.36 ($125.85), a gain of 7.56 per cent, and $68.95 ($64.64), a gain of 6.6 per cent respectively. Apart from them, Infosys at $50.62 ($49.22), Sterlite Industries $24.8 ($23.97) and Wipro at $16.34 ($15.87) closed in the green. For those which ended in the red, the fall was quite huge. The biggest loser was Patni Computers by 24 per cent followed by VSNL (12.95 per cent), Tata Motors (8.3 per cent), MTNL (6.5 per cent) and Dr. Reddy’s Lab (2.7 per cent). Only Satyam Computer witnessed marginal fall of 0.2 per cent Internet counters Rediff.com and Sify fell by 13.7 per cent and 3.8 per cent respectively. HDFC Bank maintains rally More Stories on : Commentary | ADR Watch
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|