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Financial shares see US equities end higher.

MUMBAI: US stocks ended slightly higher Tuesday as rising bond prices boosted equities, while at the same time housing data disappointed. Financial shares gained on speculation that lower borrowing costs may increase demand for loans.

The yield on the US benchmark 10-year treasury note

declined to 5.08%, its lowest in more than a week. This eased concerns that higher borrowing costs will reduce loan demand and exacerbate the housing slump. But gains were limited after a government report said housing starts fell in May for the first time in four months.

Starts of new US homes fell by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3% to 1.50 million on a jump in multifamily dwellings, the Commerce Department estimated Tuesday.

Bank of America, Citigroup and JPMorgan Chase led gains. General Electric, the world's second-largest company by market value, climbed to a five-year high.

Retailers however, remained under pressure as Best Buy fell 5.9% after posting disappointing earnings. Other electronics retailers fell in unison, including Circuit City, RadioShack and Tweeter.

The Dow Jones industrial average was up 22.44 points or 0.16% at 13,635.42. The Standard & Poor's 500 Index was up 2.65 points or 0.17% at 1,533.70. The Nasdaq Composite Index was up 0.16 points or 0.01% at 2,626.76.

INDIAN ADRs

Depositary receipts of most Indian companies listed on the Nasdaq closed in the positive terrain.

Wipro was up 1.46% to $15.95. VSNL surge 3.87% to $22.80. Rediff.com India rose 2.47% to $18.28. MTNL was up 1.32% at $7.68. HDFC Bank was 1.92% higher at $84.37. ICICI Bank soar 5.39% at $ 49.69. Patni Computer Systems was up 0.31% at $25.63. Tata Motors gained 2.16% to $16.54.

Infosys Technologies was down 0.67% to close at $52.05. Satyam Computer Services slipped 1% at $25.44. Satyam Infoway dipped 1.56% to $8.81. Dr Reddy's Laboratories was marginally down at $15.48.

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