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US: Market extends gain on stimulus hopes

Capital Market 

The US stock market finished higher for third straight session on Friday, 09 October 2020, as investors cling to hope that a new round of coronavirus relief aid can be agreed upon between the White House and Congress for struggling US businesses and households. Meanwhile, growing expectations of a Democratic victory in next month's presidential election also supported risk sentiments.

At closing bell, the Dow Jones Industrial Average index advanced 161.39 points, or 0.57%, to 28,586.90. The S&P 500 index gained 30.3 points, or 0.88%, to 3,477.13.

The tech-heavy Nasdaq Composite Index added 158.96 points, or 1.39%, to 11,579.94.

Eight of the 11 major S&P indexes were up, led by materials and information technology . Energy stocks dipped.

CURRENCY NEWS: The dollar was little changed against a basket of world currencies as market participants awaited further stimulus developments. The dollar index fell 0.01%, with the euro unchanged at $1.176.

Among Indian ADR, INFOSYS added 2.7% to $15.20, Wipro added 3.25% to $5.40, HDFC Bank rose 2.5% to $56.22, ICICI Bank added 2.13% to $11.04, and WNS Holdings added 2.02% to $67.23. Azure Power Global fell 2.82% to $31.03, Dr Reddys Labs declined 0.53% to $70.03, Tata Motors fell 0.93% to $9.58, and Vedanta fell 7.74% to $5.96.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 12 2020. 10:32 IST