ADRs in Focus: India

The Bank of New York India ADR Index dropped 50.84 points, or 4.1 percent, to 1,199.34. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Bhutto was shot in the neck after rally to drum up support for the upcoming Pakistani elections. Her attacker then blew himself up. The murder further destabilizes the nuclear-armed nation, a key ally of the United States.

ICICI Bank Ltd. fell the most, dropping $3.24, or 5.2 percent, to $60.10.

Sterlite Industries India Ltd., a copper producer, lost $1.26, or 4.8 percent, to $24.76.

Telecommunications company Videsh Sanchar Nigam Ltd. shed $1.78, or 4.5 percent, to $37.85.

HDFC Bank Ltd. decreased $6.56, or 4.9 percent, to $127.60.

Tata Motors Ltd. fell 96 cents, or 4.9 percent, to $18.47.

And Mahanagar Telephone Nigam Ltd., a telecommunications company, list 27 cents, or 2.8 percent, to $9.36.

The Bank of New York Composite ADR Index shed 0.64 points to 191.71 as the U.S. markets fell in afternoon trading.