Indian ADRs: VSNL, Wipro, Tata Motors, Infosys gain

Wall Street stumbled lower yesterday as growing concerns over technology companies led jittery investors to pull money out of the market ahead of this week's earnings reports.

The market has been vulnerable to erratic trading lately, with investors cautious about the direction of the economy and companies' results. The tech sector so far has been knocked down the most, after Apple Inc.'s and Intel Corp.'s outlooks last week fell below the Street's expectations.

With industry leaders like Qualcomm Inc. and Microsoft Corp. releasing their financial results later this week, many investors are bracing for disappointment.

Blue chip stocks were also dragged down by a Wachovia analyst's downgrade of Boeing Co.; the analyst cited possible aircraft order delays from the jet maker.

Overall, earnings reports and economic data this year have signaled growth that's cooling, but not so quickly that it is squeezing corporate profits. This would normally be good news for the stock market, but investors have been retreating - wisely, many market watchers say - on signs they may have gotten ahead of themselves late last year, when the Dow began racing into record territory.

The Dow Jones industrials fell 88.37 points, or 0.70%, to 12,477.16 - the biggest one-day drop since Nov. 27, when the index fell by 158 points. Earlier in Monday's session, the Dow declined by 114 points.

Broader stock indicators also dropped. The Standard & Poor's 500 index fell 7.55 points, or 0.53%, to 1,422.95, and the Nasdaq composite index lost 20.24 points, or 0.83%, closing at 2,431.07.

A look at how the Indian ADRs performed:

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

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

Price 56.74 7.82 17.53 23.62 17.01 43.75 74.63 7.41 21.97 18.14 22.02 20.50

Change 0.61 -1.27 -0.90 -0.08 0.21 -0.75 -0.54 -0.11 0.32 -0.44 0.27 -0.01

% Chg 1.09% -13.97% -4.88% -0.34% 1.25% -1.69% -0.72% -1.46% 1.48% -2.37% 1.24% -0.05%

Volume 1,536,903 2,272,044 444,453 1,410,900 324,000 1,026,000 111,600 595,500 100,300 1,160,600 542,900 10,200

High 57.07 8.94 18.63 23.79 17.13 44.22 75.32 7.60 22.56 18.59 22.11 20.60

Low 56.01 7.67 17.27 23.4 16.82 43.44 74.34 7.34 21.77 17.92 21.88 20.38