Wall Street ends flat; Dow down 28 points

Wall street ended Friday trade on a flat note after economic reports offered bleak views on everything from manufacturing to consumer sentiment.

Consumer confidence fell to a 16-year low and manufacturing in New York unexpectedly contracted for the first time since 2005. Import prices rose 1.7% in January, amid sharp increases in prices of petroleum and food. The empire state manufacturing index dropped to minus 11.7, industrial production rose 0.1%.

The University Of Michigan reported that consumer sentiment fell sharply in early February to levels usually associated with recession.

In stock specific action financial shares rallied on speculation that bear stearns will receive a takeover Bid. Intel led declines in all 18 companies in an S&P index of semiconductor shares on concern that weaker consumer sentiment will diminish demand. Energy companies fell the most in seven days.

The Dow Jones industrial average declined 28.77 points, or 0.23%, to 12,348.21. The Standard & Poor's 500 index gained 1.13 points, or 0.08%, to 1,349.99. The Nasdaq composite index was down 10.74 points, or 0.46%, to 2,321.80.

A look at how the Indian ADRs performed: