Indian ADRs mostly negative

It was a fairly negative close for the Indian ADRs on Friday, with eight out of twelve ADRs closing in negative territory.

Patni Computer Systems was the top loser, shedding 4% to end at $20.20, followed by Wipro down 1.5% at $14.97, and Tata Communications at $10.77, which slipped by a percent.

MTNL shed 0.7% to end at $2.43, while ICICI Bank closed down 0.6% at $49.11. Satyam Computer Services lost 0.4% at $2.76, Dr Reddy's Laboratories was at $39.10 down 0.3%, and Sterlite Industries slipped marginally by 0.2% at $14.95.

HDFC Bank shut at $164.42, gaining 1.4%, the highest gainer on the ADR list. Genpact up 1.4% at $15.12 and Infosys Technologies at $73.76 up marginally by 0.2% were the only IT companies trading positively, while Tata Motors ended the day up 0.8% at $30.17.

IT ADRs had a rough day on Friday, except for Genpact and Infosys. The IT sector will be one to watch out for in today's trading on the Indian bourses.