Wall Street closed mixed after taking a beating in early trade. Bank stocks slid on a broker warning about more losses at Citigroup. Fed Chairman Ben Bernanke said that defaults and foreclosures in the housing market were likely to continue to increase & urged banks to forgive more late loans. Stocks lifted in the last hour of trade after rumors of a possible Ambac bailout hit the circuit.

Citigroup hit a nine year low, after news that job cuts could reach 30,000 due to more write downs. Merrill lynch also cut its earnings forecast for Citigroup. The Citigroup news dragged other financials as well.

The beaten down tech sector got a boost after Cisco CEO John Chambers said he is more confident about the company's long-term growth. Intel meanwhile lowered its gross margin forecast for the current quarter.

The Dow Jones industrial average slipped 45.10 points, or 0.37%, to 12,213.80. The Standard & Poor's 500 index declined 4.59 points, or 0.34%, to 1,326.75, while the Nasdaq composite index gained 1.68 points, or 0.07 %, to 2,260.28.

A look at how the Indian ADRs performed:

Name Infosys Sify Rediff.com India Satyam Wipro ICICI Bank HDFC Bank MTNL Tata Comm Dr Reddy's Lab Tata Motors Patni Computer Sterlite Ind

Symbol INFY SIFY REDF SAY WIT IBN HDB MTE TCL RDY TTM PTI SLT

Price 37.43 4.50 8.08 24.31 11.39 46.91 102.02 5.75 23.20 14.15 17.19 11.36 19.48

Change -0.78 -0.11 -0.22 -0.26 -0.15 -3.37 -1.67 -0.03 -1.80 -0.36 -0.41 -0.11 -0.42

Change% -2.04% -2.39% -2.65% -1.06% -1.30% -6.70% -1.61% -0.52% -7.20% -2.48% -2.33% -0.96% -2.11%

Volume 4,618,911 153,563 77,878 1,067,793 381,076 5,561,862 745,812 200,075 144,593 183,166 950,478 92,000 1,702,652

High 37.82 4.63 8.37 24.56 11.44 48.68 103.42 5.76 23.75 14.44 17.84 11.51 20.15

Low 36.71 4.50 8.05 23.68 11.01 45.67 100.1 5.60 22.01 14.03 17.12 10.89 19.26