Fed, crude boost sentiment on Wall St

The Wall Street rallied smartly on Tuesday as the Federal Reserve signalled that it was not in a hurry to raise rates. Cooling off curdue oil prices also boosted sentiments.  The Dow Jones industrial average rallied 332 points to 11,616. The Nasdaq surged 64 points to 2,350.

The Indian ADRs, too, ended with sharp gains. ICICI Bank zoomed 15.5% to $33.91, and HDFC Bank soared 11.6% to $89.04. Tata Motors surged 8.6% to $10.06. Wipro and Tata Communications rallied 5% each to $11.35 and $20.79, respectively. Infosys, Sterlite, Satyam, Patni Computers and Dr.Reddy's also finished with smart gains. MTNL, however, slipped 1.5% to $5.07.