US: Market ends higher in choppy trade

The US stock market finished choppy session firmly in the positive territory on Friday, 18 November 2022, as gains in utilities, realty, consumer staples, and healthcare stocks overshadowed losses in energy and communication services stocks.

At the close of trade, the Dow Jones Industrial Average index was up 199.37 points, or 0.59%, to 33,745.69 The S&P500 index added 18.78 points, or 0.48%, to 3,965.34. The tech-heavy Nasdaq Composite Index increased 1.10 points, or 0.01%, to 11,146.06.

Total 9 of 11 sectors of S&P500 index traded higher, with utilities (up 2%), real estate (up 1.3%), healthcare (up 1.2%), and consumer staples (up 1.04%) issues being notable gainers, while energy issue was worst performer with loss of 0.9%.

 

ECONOMIC NEWS: The National Association of Realtors released a report showing existing home sales plummeted by 5.9% to an annual rate of 4.43 million in October after slumping by 1.5% to a rate of 4.71 million in September.

A separate report released by the Conference Board showed its leading economic slumped by 0.8% in October after falling by a revised 0.5% in September.

Among Indian ADR, INFOSYS was down 0.05% at $19.47, HDFC Bank fell 0.1% to $67.89, ICICI Bank fell 0.1% to $22.73, Azure Power Global shed 6.4% to $5.38, and Wipro was down 0.6% to $4.91. Dr Reddy's Labs sank 1.2% to $53.95. WNS Holdings added 3.6% to $85.53 and Tata Motors added 0.4% to $25.69,

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