Tuesday's Asia ADR Recap: Solar Surge

Investors booked profits in Indian stocks Tuesday as the downtrend resumed Tuesday following Monday's break from the selling streak. Traders said money managers were dumping stocks in the oil and gas sectors on concerns the Indian government won't compensate energy companies for selling fuel below cost.

"Markets are likely to witness some downside as inflation and rising crude prices are major concerns. The depreciating rupee too is adding fuel to the fire," said Anita Gandhi, head of institutional business at Arihant Capital Services.

The Bombay Stock Exchange's Sensex Index slipped 108 points, or 0.6%, to 16,752.

India was the unfortunate victim of a terrorist attack Tuesday. At least 60 people were killed and 200 injured after seven bomb blasts ripped through the city of Jaipur. Early reports said the bombs had been placed on bicycles and set to go off within minutes of each other. "The blasts were carried out by terrorists with foreign links," said Junior Home Minister Sriprakash Jaiswal.

China Watch: Game Plan for Earthquakes, Inflation

Indian automaker Tata Motors TTM might be forced to delay its Nano car project after India's Supreme Court said it will examine why fertile multi-crop agriculture land in Singur, West Bengal, was acquired by the company for the project. The Supreme Court asked Tata Motors, the West Bengal Industrial Development and the West Bengal government to file replies on the petitions filed by some farmers whose fertile land had been forcibly acquired by the government. Tata Motors said any delays in the project would force the company to raise the price of the proposed ultra-cheap car. American depositary shares of Tata Motors, which trade on the NYSE, closed essentially flat at $16.