While the GDRs from the aluminium sector gained by 21.53 per cent, the GDRs of cable sector moved up by 8.83 per cent and textile industry GDRs recovered by 7.17 per cent.

The increasing activities of arbitrageurs who reaped the benefits of the rising premiums of GDRs of ITC, Bajaj Auto, Larsen and Indian Aluminium saw the Skindia GDR index premium register a net loss of 11.09 per cent to close at 8.99 per cent. However, the GDRs of Bajaj Auto and MTNL were quoted at a premium of 25.21 per cent and 22.86 per cent respectively.

During the week-ended October 29, the 60 GDRs on an average appreciated by 4.64 per cent, while the underlying securities rose by 5.38 per cent.

GDRs from the power, telecom and cement sectors howevercontinued to remain net losers registering a price erosion of 3.85 per cent, 1.95 per cent and 0.84 per cent respectively.

Among the top gainers during the week was Indian Aluminium which shot up by over 51 per cent to close at $ 1.82, while the GDRs of Raymond Woolen and GE Shipping appreciated by 29.35 per cent and 20.99 per cent to close at $2.98 and $2.45 respectively. However, the GDRs of India Cements, Century Textiles and Hindustan Development dipped substantially to close at $0.90, $0.73 and $0.20 respectively.

Although the quarterly results' phase started on a lacklustre note, and stocks continued to be moving into the grip of bear operators, the Indian Aluminium stock stood against the onslaught on the local and GDR front.

Since the announcement of the results on October 26, its GDR shot up to $1.82 a rise of 51.25 per cent while its underlying stock to Rs 67.70 a gain of 32.10 per cent.

The SAIL stock continued to hammered on the GDR front, with its GDR price falling to a low of Rs 4.94trading at a discount of 8.28 per cent to its underlying price which was Rs 5.35 on October 29.