US mkts slump; VSNL, HDFC Bank rally

Rise in the crude oil prices and nervousness ahead of big corporate earnings announcement this week dampened the US market sentiment yesterday. While the Dow Jones dropped 55 points to 10,596, the Nasdaq lost 13 points to 2,167.

Although most of the ADRs ended weak, select floats reported strong upsurge on Monday. Satyam dropped 3.78% to $28, and Wipro lost 2.36% to $20.70. Infosys was down a per cent at $71.54.

Dr. Reddy's. Tata Motors and MTNL also edged lower to close at $17.37, $10.77 and $7, respectively. HDFC Bank, however, soared 5.63% to $50.70. While VSNL spurted 5.45% to $17.80, ICICI Bank shot up 4.11% to $25.33.