US Stocks end mixed

The US stocks were mixed in the volatile trade on Tuesday, 27 September 2022, with the Dow and the S&P 500 indexes settling lower for six straight sessions, while the Nasdaq managed to end the day modestly higher.

The mixed finish of the Wall Street came as concerns about higher interest rates and the outlook for the global economy mostly offset by bargain hunting on recently battered stocks.

At the close of trade, the Dow Jones Industrial Average index dropped 125.82 points, or 0.43%, to 29,134.99. The S&P500 index declined 7.75 points, or 0.21%, to 3,647.29. The tech-heavy Nasdaq Composite Index advanced 26.58 points, or 0.25%, to 10,8229.50.

The S&P 500 is now 24.3% below its record set in January, while the Dow is 21.2% below its all-time high. The Nasdaq has fallen more than 33% since hitting a record in November.

Total 7 of 11 S&P 500s sector indexes fell, with utilities, real estate, consumer staples sectors falling more than 1%, while energy sector was top gainer, rising 1.2%.

ECONOMIC NEWS: The Commerce Department report showed that durable goods orders slipped by 0.2 percent in August after edging down by 0.1 percent in July.

Meanwhile, a separate Commerce Department report unexpectedly showed new home sales skyrocketed by 28.8 percent to an annual rate of 685,000 in August after plunging by 8.6 percent to a revised rate of 532,000 in July.

The Conference Board also released a report showing consumer confidence index climbed to 108.0 in September from an upwardly revised 103.6 in August.

Among Indian ADR, ICICI Bank fell 1.2% to $20.81, HDFC Bank fell 2.4% to $57.06, Tata Motors added 0.4% to 24.37, and WNS Holdings fell 1.35% to $78.66. Azure Power Global added 4% to $5.75, Dr Reddy's Labs added 1.3% to $50.55, and INFOSYS was up 0.6% to $16.79. Wipro was steady at $4.79.

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