US Stocks rebound on bargain buying

The US stocks moved mostly higher on Monday, 13 September 2021, with the Dow and the S&P 500 both settling higher, ending a five-day losing streak, as bargain hunting resumed with stocks set to benefit most from a resurging economy enjoying the biggest percentage gains. However, market gains capped as investors reluctant to make significant moves ahead of the Federal Reserve meeting, with the central bank potentially providing an update on the outlook for its asset purchase program.

At the close of trade, the Dow Jones Industrial Average index added 261.91 points, or 0.76%, to 34,869.63. The S&P 500 index rose 10.15 points, or 0.23%, to 4,468.73. The tech-heavy Nasdaq Composite Index was down 9.91 points, or 0.07%, to 15,105.58.

 

Total 8 of 11 S&P500 sectors inclined, while remaining 3 sectors closed down. Financials (up 1.14%), sector was top performer, followed by real estate (up 0.48%), and communication services (up 0.41%), while healthcare (down 0.61%) sector was worst performer, followed by utilities (down 0.2%).

Total volume turnover on U.S. exchanges was 8.93 billion shares, up from previous session volume of 8 billion shares. In the NYSE exchange, 2066 issues advanced, 1234 issues declined, and 143 issues closed unchanged. In the NASDAQ, 2215 issues advanced, 2170 issues declined, and 230 issues unchanged.

Among Indian ADR, Dr Reddys Labs added 1.9% to $67.20, WNS Holdings added 0.47% to $81.51, Vedanta added 0.78% to $16.73, Tata Motors added 0.74% to $20.44, and Wipro added 0.63% to $9.52. INFOSYS fell 0.13% to $22.96, HDFC Bank fell 0.33% to $75.20, and ICICI Bank fell 0.26% to $19.31

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