US Stocks end mostly lower

The US stocks finished mostly lower after drifting between small gains and losses on Thursday, 17 June 2021, with the Dow and the S&P500 indexes into negative terrain, while NASDAQ index settled higher, following yesterday's announcement from the Federal Reserve, which indication of an earlier policy shift to tightening.

At the close of trade, the Dow Jones Industrial Average index fell 210.22 points, or 0.62%, to 33,823. The S&P 500 index declined 1.84 points, or 0.04%, at 4,222. The tech-heavy Nasdaq Composite Index added 121.67 points, or 0.87%, to 14,161.

Total 7 out of 11 S&P 500 sectors closed up, with information technology (up 1.17%) sector was top gainer, followed by healthcare (up 0.8%), consumer discretionary (up 0.6%), communication services (up 0.6%), and utilities (up 0.5%) sectors, while energy (down 3.5%) sector was worst performer, followed by financials (down 2.9%), material (down 2.2%), and industrials (down 1.6%) sectors.

Shares of energy and materials companies suffered heavy losses after Commodities prices declined sharply as China attempts to cool rising prices and the U.S. dollar strengthens.

On the economic front, the Labor Department released a report showing initial jobless claims rose to 412,000 in the week ended June 12th, an increase of 37,000 from the previous week's revised level of 375,000.

A separate report from the Federal Reserve Bank of Philadelphia showed Philadelphia-area manufacturing activity expanded at a slightly slower rate in the month of June.

Among Indian ADR, Tata Motors fell 2.7% to $22.98, Dr Reddys Labs was down 2% to $72.09, Vedanta fell 2.5% to $13.86, Wipro fell 0.6% to $8.05, HDFC Bank fell 0.4% to $74.48, and ICICI Bank was down 1.4% to $17.1. INFOSYS added 1.4% to $20.67 and WNS Holdings rose 1.93% to $79.25.

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