US: Market ends higher

The US stocks were mostly higher on Friday, 20 August 2021, with the major averages all ended the day firmly in positive territory, as investors chased for bottom fishing after market pullback earlier this week. However, market gains caped amid lingering concerns about the outlook for monetary policy after minutes from the Federal Reserve's July monetary policy meeting indicated most officials were in favor of beginning to scale back the central bank's asset purchase program later this year.

At the close of trade, the Dow Jones Industrial Average index advanced 225.96 points, or 0.65%, to 35,120.08. The S&P 500 index added 35.87 points, or 0.81%, to 4,441.67. The tech-heavy Nasdaq Composite Index was up 172.87 points, or 1.19%, to 14,714.66. For the week, the Dow slumped by 1.1 percent, while the Nasdaq and the S&P 500 slid by 0.7 percent and 0.6 percent, respectively.

All 11 S&P500 sectors advanced. Information technology (up 1.3%) sector was top leader, followed by utilities (up 1.2%), communication services (0.96%), consumer discretionary (up 0.93%), materials (up 0.64%), and financial (up 0.62%) sectors.

Total volume turnover on U.S. exchanges was 7.74 billion shares, down from previous session volume of 7.86 billion shares. In the NYSE exchange, 2375 issues advanced, 951 issues declined, and 147 issues closed unchanged. In the NASDAQ, 3068 issues advanced, 1383 issues declined, and 211 issues unchanged.

Among Indian ADR, INFOSYS added 1.4% to $23.88, Wipro added 0.68% to $8.89, and Tata Motors added 0.26% to $19.15. WNS Holdings declined 0.35% to $81.83, HDFC Bank dropped 1.79% to $76.74, Dr Reddys Labs fell 2.01% to $61.33, and Vedanta fell 4.91% to $14.53. ICICI Bank unchanged at $18.55.

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