Reliance, Itc Floats Gain

Indian global depository receipts (GDRs) advanced during mid-session trades in London on Wednesday.

However, Wall Street opened flat as investors paused for breath after a recent rally and braced for a key report on the mammoth US services sector.

The Institute for Supply Management is set to release its non-manufacturing index for May shortly.

The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, advanced by around one per cent to 523.11 during mid-session trading on Wednesday.

The Reliance Industries GDR rose 2.65 per cent to $12.80 in early trades, while cigarette major ITC climbed 1.20 per cent to $15.18.

 

However, Hindalco shed 2.36 per cent to $14.50, State Bank of India fell 0.23 per cent to $17.70 and Larsen & Toubro eased by 0.10 per cent to $9.55.

The GDRs of Tata Engineering were heavily traded in the morning session today, registering volumes of around 87,000 GDRs.

On Tuesday, the ISDI finished flat at 519.75. The ISDI P/E ratio also eased by 0.36 per cent to 10.87.

Meanwhile, Indian securities were stronger on Tuesday, even as key techs lost ground. Wit, the Wipro ADR shed 41 cents to $19.80 and Say, the Satyam Computer ADR fell 14 cents to $8.55.

Infy, the Infosys Tech ADR, gained 18 cents to $46.18. HDB, the HDFC Bank ADR rose 66 cents to $17.67.

Meanwhile, Nasdaq rose by 12.81 points to 1603.56. The Dow Jones industrial average gained 25.14 points to 8922.95 and the S&P 500 index edged up 4.56 points to 971.56.

Elsewhere, Japan