U.S.-traded shares of Indian companies rose Wednesday, despite a decline on Wall Street after supply concerns caused the price of oil to spike.
The Bank of New York Mellon India ADR Index advanced 17.08 points, or 2 percent, to 860.21. The index has declined about 29 percent so far this year.
American Depositary Receipts, or ADRs, are securities designed to allow U.S. investors to trade shares of companies based overseas.
Among the standouts, shares of HDFC Bank Ltd. rose 57 cents to $75.07, and shares of Infosys Technologies Ltd. rose $1.06, or 2.5 percent, to $44.07.
Bucking the trend, Patni Computer Systems Ltd. fell 8 cents to $11.50 and Sify Technologies Ltd. lost 12 cents, or 3.7 percent, to $3.13.
In Asia, markets rose on Tuesday's rally on Wall Street and better-than-expected earnings reports in China.
Terms & Conditions
RSS Headlines
Fool UK