Wall St surges; Indian ADRs sizzle

Heavy buying in the US markets saw the indices surge. The Dow Jones industrial average rallied 198 points to 11,015. The Nasdaq zoomed 58 points to 2,144.

Indian ADRs witnessed frenzied buying. While HDFC Bank soared 12.6% to $51.51, ICICI Bank rallied 11% to $25.55. Satyam zoomed over 10% to $32.15. Wipro surged over 8% to $11.66, and Infosys gained 5.6% at $69.66. Patni Computers added 3.7% to $14.34.

MTNL zoomed 9.6% to $6.95. VSNL surged 7.7% to $15.15. Tata Motors and Dr.Reddy's were up over 8% each at $16.54 and $27.63, respectively.