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Indian ADRs end mostly negatively
May, 14th 2011

Most of the Indian ADRs ended on a negative note following weakness across Wall Street as investors fretted over the upheaval in commodity prices and concerns that economic recovery was losing steam also loomed.

Indian IT ADRs logged losses, Infosys was off 1.4%, TCS and Wipro dipped 0.6% each, and Genpact slumped 2%.

Banking ADRs also ended in the red, HDFC Bank lost 0.8% and ICICI Bank declined 0.7%.
From the auto pack Tata Motors bucked trend and was up 0.4%. Among the healthcare space, buying emerged in Dr Reddy's after fourth quarter net profit zoomed 17%, the ADR surged 2%.

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