Dow, Nasdaq rally; Indian ADRs shine

The Wall Street ended higher for the third straight day on Thursday. Better than expected retail sales data and confidence building in the financial sector helped the upmove. The Dow Jones industrial average index surged 3.5% (240 points) to 7,170. The Nasdaq soared 4% (54 points) to 1,426.

Indian ADRs, too, ended with smart gains. Tata Motors zoomed 10.5% to $3.87, and Patni Computers soared 7.5% to $5.23. Wipro surged nearly 5% to $6.07. ICICI Bank rallied 4.3% to $11.75. Infosys and Sterlite moved up nearly 4% each to $25.40 and $5.22, respectively. MTNL, however, shed 2.5% at $2.38.