US Market falls ahead of first presidential debate

The US stock market finished penultimate session of month lower, Tuesday, 29 September 2020, as investors booked profit ahead of the first US presidential debate between Joe Biden, the Democratic nominee, and President Donald Trump. Investors also looked to square positions near the end of the quarter. However, market losses capped as favourable economic data provided support for markets.

At closing bell, the Dow Jones Industrial Average index declined 131.40 points, or 0.48%, to 27,452.66. The S&P 500 index dropped by 16.13 points, or 0.48%, to 3,335.47. The tech-heavy Nasdaq Composite Index fell 32.28 points, or 0.29%, to 11,085.25.

Eight of the 11 major S&P 500 sectors were lower, with energy stocks and financials leading declines, as they gave back some of their gains from the previous session.

Among Indian ADR, INFOSYS fell 0.51% to $13.56, Wipro fell 0.64% to $4.64, Tata Motors dropped 1.22% to $8.87, and Dr Reddys Labs declined 0.52% to $68.65. Vedanta added 0.13% to $7.48, ICICI Bank was up 0.31% to $9.85, WNS Holdings rose 0.6% to $64.17,HDFC Bank rose 0.87% to $48.96, and Azure Power Global inclined 5.16% to $31.59.

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