The pledging of support by the European Union to Greece to overcome the economic crisis, and better-than-expected earnings by US corporates boosted the sentiment at Dalal Street. The S&P-500 increased 2.2 per cent and the DJ Industrial rose 1.6 per cent while the Nasdaq jumped 2.5 per cent.
The domestic markets also shared the global optimism and closed on firm note. The BSE Sensex climbed 0.86 per cent and the NSE's Nifty 0.95 per cent.
However, it was a mixed show by the Indian ADRs. Tata Communications was the biggest gainer, by jumping 10.32 per cent at $9.94 against the previous week close of $9.01. Telecom majors were on the rise, after Bharti Airtel increased the tariff for some of its services by 20 per cent.
HDFC Bank, which posted an increase of about 34 per cent in its net profit, moved up 1.64 per cent at $180.93 ($178.01). The bank's net interest income grew 18.6 per cent. ICICI Bank also finished 1.76 per cent higher at $48.08 ($47.25).
Infosys Technologies, which tumbled after announcing the financial performance, displayed some resistance. The ADR closed at $63.62 ($61.39), a gain of 3.63 per cent.
However, other IT majors continued their slide. Wipro closed 2.6 per cent lower at $12.51 ($12.8). Wipro posted a weak 1.2 per cent rise in fiscal first-quarter net profit on Wednesday and warned that revenue growth at its technology-outsourcing unit may fall below industry forecasts for the first time. Patni Computer slipped 1.26 per cent and Mahindra Satyam (Satyam Computer) crashed 14 per cent.
Dr. Reddy's Lab announced a 20-per cent increase in net profit. It also said that it entered into an agreement with JB Chemicals & Pharmaceuticals to buy the latter's prescription medicine portfolio in Russia and other CIS countries. But these announcements failed to lift the counter as the ADR finished 2.36 per cent lower .
Rediff.com and Sify also crashed 15.7 and 27.4 per cent respectively. They are scheduled to announce their June quarter results this week.