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As financial stocks come back to haunt the US markets, all the three major indices – the S&P-500, the Nasdaq and the Dow Jones Industrial Average – fell. The S&P 500 slipped 0.5 per cent, the Dow Jones Industrial Average fell 0.3 per cent to 11,628.06 while the tech-focussed Nasdaq declined by about 1.5 per cent.

Continuous selling by foreign institutional investors affected the sentiment for the domestic markets, which was plagued by low trading volumes. While the BSE Sensex tumbled 2.19 per cent, the broader S&P CNX Nifty slipped 2.33 per cent.

Most of the Indian counters trading in the US bourses ended the week on a weak note, though some of them recovered on Friday, but that was not enough for them to close in the green.

The biggest losers were Internet major Rediff.com. The ADR fell by 15.6 per cent to end the week at $6.03 against the previous week close of $7.15. MTNL was the next major loser, as its ADR tumbled by 6.4 per cent to end at $4.81 ($5.14). Both these counters have been witnessing sharp gains in recent times and profit taking appeared to have weakened the price.

Internet counters Infosys Technologies, Satyam Computer and Wipro closed the week on negative note despite the rupee depreciating against the US dollar. Slowdown fears in the US seemed to have impacted the sentiment for these stocks. Satyam was the biggest loser, as its ADR tumbled by 5.15 per cent at $21.75 ($22.93), while Infy and Wipro declined by 2 per cent and 0.3 per cent respectively. Patni Computers, however, bucked the trend and finished in the green at $10.58 ($10.46).

The slight recovery on metal prices appeared to have helped in the recovery of Sterlite Industries, whose ADR gained 3.15 per cent to end at $14.41 ($13.97).

It was a mixed show by banking counters. While HDFC Bank finished in the green at $85.52 ($84.7), ICICI Bank tumbled 2.8 per cent at $30.25 ($31.12).

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