The US stocks closed the week negative on concerns over corporates' financial performance.

The Dow Jones Industrial Average fell 0.3 per cent, the S&P 500 and the Nasdaq lost 0.6 per cent each. Domestic markets too ended weakly on rising inflation worries and on FII pull out. The BSE Sensex slipped 0.33 per cent and the NSE's S&P CNX Nifty 0.3 per cent.

Among the ADRs, Infosys led the downfall following its disappointing Q4 number. The ADR plummeted 12.3 per cent to close at $63.21 against the previous week close of $72.05. Wipro slumped 6.7 per cent at $14.07 ($15.08) while Patni Computer ended a tad weak at $21.28 ($21.34). But Mahindra Satyam gained 0.29 per cent at $3.47 ($3.46).

However, last week belonged to Sify and Rediff.com. Despite Google coming out with ‘disappointing' numbers, the Indian majors displayed a strong trend. While Sify jumped 37.68 per cent at $5.81 ($4.22), Rediff.com surged 18.39 per cent at $9.14 ($7.72).

Dr. Reddy's Lab, which announced launch of over-the-counter anti-allergy drug in the US, closed 0.16 per cent lower at $37.68 ($37.74).

As inflation rose to 8.98 per cent in March from 8.31 per cent in the previous month, HDFC Bank and ICICI Bank fell. The former tumbled 1.11 per cent to $170.24 ($172.15) and the latter 0.55 per cent at $49.03 ($49.3), on fears that RBI might increase interest to tame the inflation.

The ADR of Tata Communications maintained its momentum to end 1.85 per cent higher at $11.54 ($11.33) while MTNL jumped 2.3 per cent at $2.21 ($2.15). Tata Motors edged down 0.75 per cent at $27.68 ($27.89). Sterlite Industries fell 2.93 per cent at $15.24 ($15.7).

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