Indian ADR’s Unphased By Terror Attacks (INFY, IBN, REDF, SAY, SLT, TTM, WIT)
November 26, 2008 by Douglas A. McIntyre
Fresh attacks that appear to be targeted against foreigners in Mumbai, India have failed to thwart a market rally today even in Indian stocks. Reports have foreigners being taken hostage at premiere hotels frequented by the wealthy and by business travelers and some 60 deaths have been reported. Interestingly enough, this has also failed to take out the wind of the Indian ETF’s and Indian ADR’s which are actively traded here in the US. Stock Moves in ADR’s:
- Infosys Technologies Ltd. (NASDAQ: INFY) up 6.3% at $24.61
- ICICI Bank (NYSE: IBN) down 2.7% at $13.26 (had been up before)
- Rediff.com India Ltd. (NASDAQ: REDF) up 5.6% at $2.06
- Satyam Computer Services (NYSE: SAY) up over 3% at $12.78
- Sterlite Industries (NYSE: SLT) up 7% at $4.80
- Tata Motors (NYSE: TTM) down 2.3% at $4.59 (was down most of day)
- Wipro Ltd. (NYSE: WIT) up 4.3% at $7.48
We also added in an after-report list to the ETF’s and closed-end funds we track to show a broad interest as well.
Jon C. Ogg
November 26, 2008
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.