Hindalco, Sbi Gdrs Gain

The Instanex Skindia DR Index (ISDI) gained around 2 per cent to 479.40 on May 6 as compared to the previous close at 4:00 PM IST.

Among ISDI global depository receipts, four advanced and three remained unchanged.

The only gainers were State Bank of India (up 3.37 per cent to $15.35), Hindalco (up 0.96 per cent to $13.10), Reliance (up 0.13 per cent to $11.42) and Bajaj Auto (up 0.10 per cent to $10.10). Among ISDI GDR stocks, ITC ($14.35), L&T ($8.50) and Ranbaxy ($15.60) remained unchanged.

On May 5, all ISDI American depository receipts advanced. The major gainers were VSNL (up 1.40 per cent to $3.46), Infosys (up 4.28 per cent to $43.91) and MTNL (up 3.86 per cent to $4.04).

The ISDI, which represents the GDRs and ADRs of 15 actively-traded firms firmed up further by 1.17 per cent to 477.82 on May 5 as against its previous close of 472.30, according to an Instanex Capital release.

The ISDI P/E ratio also looked up by 1.06 per cent to 10.07 per cent as against 9.96 per cent previously. Among the Indian ADRs and GDRs, there were 13 gainers and 61 ruled steady.

The ADRs of Satyam Infoway, Silverline Tech and VSNL shot up to $6.35, $1.30 and $3.46, respectively, from $4.84, $1.19 and $3.30, previously.

Meanwhile, in the Wall Street, stocks are set to open flat as the market awaits comments from the Federal Reserve for some clue on the economy. The S&P 500 stock index June interest futures went up 1.90 points to 928.20, while the Nasdaq futures were up 2.50 points at 1141 in early trades.

There has been a rally of 15 per cent in US equity stocks since the middle of March this year and there are hopes of a pick-up later this year.