Infosys ADR surge draws attention after sharp intraday spike on NYSE

Infosys ADRs witnessed extreme volatility during Friday’s US trading session, hitting a 52 week intraday high of $30 after surging more than 56 percent before cooling off. The ADR finally closed 5.68 percent higher at $20.27, with trading volumes jumping to over 3.5 million shares, far above the usual average. Market participants attributed the sharp move to technical factors rather than fundamentals, as no company-specific development was announced. The spike highlighted the impact of short-covering and thin liquidity in ADR trades.