Half of the Indian ADRs closed in the green, and a majority of the positive ADRs were technology stocks.
Dr Reddy's Laboratories was the leading ADR at $41.76 up 2%, followed by Infosys Technologies at $70.11, Sterlite Industries at $15.38 and Wipro at $14.52, all up 1%.
Genpact at $14.90 and Patni Computer Systems at $20.82 were up marginally, less than a percent.
Amongst the losing ADRs, HDFC Bank at $179.10 down 4% and ICICI Bank at $49.55 down 3% led the pack. Banking stocks underperformed considerably in the Indian markets yesterday, with the BSE Bankex closing down 3%.
Tata Motors was down 2% at $30.13, while Satyam Computer Systems, the only tech ADR trading in the red, was down 1% at $2.93.
Tata Communications at $11.64 and MTNL at $2.56 closed marginally in the negative.
All in all, it was a comfortable day for the tech companies, while the banking ADRs saw a considerable negative movement.
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