US Stocks end mixed ahead of Fed

September 22,2021

The US stocks were mixed on Tuesday, 21 September 2021, with the Dow and the S&P500 indexes finishing lower, while the Nasdaq index managed to eke out gains. The mixed finish of the market was due to lingering worries about contagion sweeping financial markets from the troubled China property market and uncertainty ahead of Wednesday's outcome of the Federal Reserve highly anticipated two-day monetary policy meeting.

At the close of trade, the Dow Jones Industrial Average index fell 50.63 points, or 0.15%, to 33,919.84. The S&P500 index dropped 3.54 points, or 0.08%, to 4,354.19. The tech-heavy Nasdaq Composite Index rose 32.49 points, or 0.22%, to 14,746.40.

Total 7 of 11 S&P500 sectors declined, with industrials (down 0.7%) sector was worst performer, followed by communication services (down 0.33%), while energy (up 0.37%) was top gainer followed by healthcare (up 0.15%).

Total volume turnover on U.S. exchanges stood at 8.24 billion shares, down from yesterday's 10.12 billion shares. In the NYSE exchange, 1782 issues advanced, 1473 issues declined, and 146 issues closed unchanged. In the NASDAQ, 2537 issues advanced, 1879 issues declined, and 195 issues unchanged.

ECONOMIC NEWS: The US housing starts jumped by 3.9 percent to an annual rate of 1.615 million in August from a revised rate of 1.554 million in July, according to a report released by the Commerce Department on Tuesday. The Commerce Department also said building permits spiked by 6.0 percent to an annual rate of 1.728 million in August from a revised rate of 1.630 million in July.

Among Indian ADR, Dr Reddys Labs added 1.2% to $65.81, Vedanta added 1.03% to $15.73, Tata Motors added 2.92% to $20.47, Wipro added 1.51% to $9.41, INFOSYS added 1.58% to $23.12, WNS Holdings added 0.62% to $80.96, and ICICI Bank added 0.21% to $19.23. HDFC Bank fell 0.41% to $72.55.

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