Acc Gdr Up 3.34%

The Instanex Skindia DR Index, which tracks 15 actively traded Indian depository receipts, traded flat at 516.14 during early deals.

Among Indian global depository receipts (GDRs), there were three gainers and four losers, while 55 others remained unchanged. The ACC GDR jumped 3.34 per cent in early trades on hopes that the Securities and Exchange Board of India would soon ask Gujarat Ambuja to make an open offer. ITC GDR advanced 1.28 per cent to $13.50 and Ranbaxy Laboratories rallied 0.68 per cent to $14.85.

However, Mahindra & Mahindra shed 1.90 per cent to $2.06, State Bank of India tumbled 1.90 per cent to $15.50 and Hindalco dropped 1.59 per cent to $12.40. SBI GDRs remained heavily traded in morning session registering volumes of around 80,000 GDRs.

 

On Monday, ISDI declined by 0.10 per cent to settle at 514.42 as against its previous close of 514.92.

The ISDI P/E ratio also moved down by 0.33 per cent to 10.95.

However, the US markets remained closed on in observance of Presidents Day. Meanwhile, Asian markets ended lower on Tuesday as war fears resurrected after UN Secretary General Kofi Annan told representatives of the European Union in Brussels that the entire weapons inspection process may be withdrawn if Iraq did not co-operate fully.

Tokyo