It was a flat close for the US markets as the bourses got caught in the august crosswinds of a strong dollar and tropical storm Gustav. Other cues include the Fed minutes which indicated monetary tightening and home sales numbers which rose about 2.4%.

In stock specific action, financials gained about 0.6% on the back of Freddie, Fannie and Lehman Brothers. Exxon Mobil was one of the biggest gainers in the Dow. The tech sector didn’t do well with a host of downgrades coming in.

At closing bell, Dow Jones end up 26.62 points or 0.23% at 11,412.87, S&P 500 ends up 4.67 points or 0.37% at 1271.51, while Nasdaq ends down 3.62 points or 0.15% at 2361.97.

Indian ADRs end mixed

Indian ADRs ended mixed, with gainers outnumbering the losers on Tuesday. In Banking space, HDFC Bank was up 3.67% at $ 87.95 and ICICI Bank was up 2.68% at $ 30.31. In IT space, Patni Computers was up 2.54% at $ 10.51, Infosys was up 1.58% at $ 40.53, Wipro was up 1.68% at $ 11.48 and Satyam Computers was up 0.89% at $ 21.55.

In Telecom space, Tata Communication was up 1.68% at $ 18.71 while MTNL was down 0.62% at $ 4.82. In other sectors, Tata Motors was up 3.28% at $ 9.77, Sterlite Industries was up 1.87% at $ 14.18 and Dr Reddy’s Labs was down 0.07% at $ 13.55.