Indian ADRs end lower
Indian ADRs end lower US markets slipped on Monday (September 17) ahead of the Federal Reserve`s much awaited decision on interest rates. The market lacked steam as investors chose to stay in cash and take a call only after decision with regards to the rate cut is announced. Stocks declined further after shares of Northern Rock, Britain`s fifth-largest mortgage lender, nosedived as customers withdrew billions of dollars after it issued a profit warning on Friday and requested emergency funds from the Bank of England. The Dow Jones industrial average fell 39.10 points, or 0.29%, to 13,403.42 while the Nasdaq composite index lost 20.52 points, or 0.79%, to 2,581.66. Indian ADRs followed suit with most of them ending in the negative.
Tata Motors gained 0.35% to end at USD 17.08, Wipro gained 0.14% to end at 13.68, MTNL ended up 2.55% at USD 7.23 and VSNL gained 1.68% to end at USD 19.97.
Losers
| Company | USD | % Change |
| Cognizant | 71.97 | 0.14 |
| ICICI Bank | 44.56 | 0.27 |
| Sterlite | 16.14 | 0.06 |
| Satyam | 23.81 | 0.50 |
| Dr Reddy`s | 15.93 | 1.18 |
| HDFC Bank | 89.79 | 1.49 |
| Patni Comp | 21.20 | 4.50 |
| Infosys | 46.97 | 0.51 |
| MS India | 46.11 | 1.20 |
| I-Path | 64.78 | 1.61 |