US Market gains ahead of inflation data

The US stock market finished higher for the fourth consecutive session on Monday, 12 September 2022, on the back of gains across the sectors, with shares in energy, retailers, tech, materials and financials being notable gainers.

However, market gains capped ahead of U.S. inflation data due on Tuesday that will offer a crucial guide to the interest rate outlook.

At the close of trade, the Dow Jones Industrial Average index advanced by 229.63 points, or 0.71%, to 32,381.34. The S&P500 index was up 43.05 points, or 1.06%, to 4,110.41. The tech-heavy Nasdaq Composite Index increased by 154.10 points, or 1.27%, to 12,266.41.

 

Shares in Walt Disney ended higher after activist hedge fund manager Daniel Loeb backed the board's plans to keep sports network ESPN.

Bristol-Myers Squibb shares advanced as the Food and Drug Administration approved an oral treatment for plaque psoriasis in adults.

Among Indian ADR, ICICI Bank added 0.7% to $23.16, Azure Power Global fell 5.3% to $5.56, WNS Holdings added 0.2% to $86.98, and Wipro was up 1.3% to $5.29. HDFC Bank added 1.3% to $65.30, and INFOSYS was up 0.9% at $19.24. Tata Motors gained 2.2% to $28.75 and Dr Reddy's Labs rose 0.9% to $53.97.

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