Dow gains 44pts; HDFC Bank slumps 7%

The Dow Jones industrial average gained 44 points (0.53%) to 8,325. The Standard & Poor's 500 Index added two points (0.26%) to 899 but the Nasdaq Composite Index dropped nine points (0.51%) to 1,787.

Investors' concern about the recovery in economy boosted the defensive shares.

The Indian ADRs ended on a negative note.

Genpact was down marginally at $11.37. Tata Motors slipped 2% to $8.40.

Infosys dropped 1.22% to $5.77 and Patni Computers was flat at $10.74.

ICICI Bank shed 6.3% to $27.96 and Tata Communications declined around 2% to $19.30.

HDFC Bank tumbled around 7% to $94.97