US markets end flat; Satyam surges 36%

US stocks slipped  on Wednesday on worries over the rising interest rates which could dampen the consumer and business spending, but stocks however recovered and  pared losses late in the session to finish off the day's lows.

The Dow Jones industrial average fell 24 points ( 0.27%) to 8,739.02. The Standard & Poor's 500 Index slid 3.28 points (0.35%) to 939.15. The Nasdaq Composite Index dropped 7 points, (0.38%) to 1,853.08.

Indian ADRs were mostly in green. Satyam zoomed 36% to $4.94.

HDFC Bank advanced 4.6% to $107.16 and Dr Reddy's gained 3.5% at $15.33.

Sterlite added 1.5% to $14.02.

 

Tata Motors, ICICI Bank and Patni Computers were up marginally at $10.5, $31.84 and $10.92, respectively.

Wipro slipped 1.5% to $12.63.

Infosys, Tata Communications and Mahanagar Telephone Nigam were marginally down at $37.28, $20.19 and $4.6, respectively.