Wall St rallies as oil tumbles to $115/bl

The Wall Street rallied smartly on Friday on the back of a sharp drop in crude oil prices. Oil dropped to around $115 per barrel in yesterday's trades. The Dow Jones industrial average rallied 303 points to 11,734. The Nasdaq surged 58 points to 2,414.

The Indian ADRs. too, end with smart gains. ICICI Bank zoomed 8% to $35.14. Genpact soared nearly 7% to $15.18. HDFC Bank rallied 5.5% to $92.25, and Tata Motors gained 4.5% at $10.42. Dr.Reddy's advanced 3% to $14.76. Tata Communications, however, slipped 5% to $21.07.