Wall St up on Fed bond buy plans; Indian ADRs rally

The Wall Street gained on Tuesday after the Federal Reserve surprised the street by saying that it will buy long-term treasury bonds for the first time in four decades. The move is seen as Fed's latest effort to boost the ailing US economy.
The Dow Jones industrial average index advanced over 1% (91 points) to 7,487. The Nasdaq rallied 2% (29 points) to 1,491.
Indian ADRs, too, ended with smart gains. ICICI Bank soared over 6% to $13.89. Satyam and Wipro surged over 5% each to $1.66 and $6.66, respectively. HDFC Bank rallied 4.8% to $55.99. Sterlite and Tata Communications too gained over 4% each at $5.82 and $18.32, respectively.
Source: BS