Indian ADR: Infosys, HDFC Bank Dr Reddy’s Lab, Tata Motors slip

Asian_markets_china__356x200_2929_356Indian ADRs ended lower on Thursday.

In the IT space, Infosys was down 0.33 percent at USD 18.89

Wipro fell up 0.18 percent at USD 12.16.

In the banking space, ICICI Bank was down 0.14 percent at USD 7.34

HDFC Bank slipped 0.65 percent at USD 62.83.

In the other sectors, Tata Motors shed 0.66 percent at USD 30.71

Dr Reddy’s Laboratories dipped 0.43 percent at USD 46.36.



Asian Market Commentary

Asian_markets_china__356x200_2929_356Asia markets traded mixed on Tuesday, with markets in Japan and Australia seeing losses after a mixed finish on Wall Street overnight. The Japanese Nikkei 225 was off 0.82 percent, while the Topix fell 0.77 percent.

Across the Korean Strait, the Kospi was higher by 0.41 percent. Australia’s ASX 200 retraced some of the early losses, but was still down 0.49 percent, after being closed for the Easter holiday on Friday and Monday.

Down Under, the financials subindex dropped 1.37 percent, with ANZ down 2 percent, Commonwealth Bank of Australia down 1.38 percent, Westpac off by 1.65 percent and NAB down 0.99 percent.



Petrol, Diesel Get Costlier in Delhi on Tax Hike

petrol-oil-prices-625-300_625x300_51451565700Petrol price in Delhi was on Tuesday hiked by 96 paise per litre and diesel by 53 paise per litre after the state government raised value-added tax (VAT) on the two fuels.
The Delhi government on Monday night raised VAT, or local sales tax, on petrol to 27 per cent from 25 per cent, resulting in the 96 paise per litre hike in retail pump rates.
Similarly, the VAT on diesel was increased from 16.6 per cent to 18 per cent. A pollution cess of Rs 0.25 per litre is also levied on diesel.
Petrol now costs Rs 59.99 per litre as against Rs 59.03 a litre previously. A litre of diesel now costs Rs 44.71 as opposed to Rs 44.18 previously.