The US stock market finished higher for second straight session on Thursday, 30 March 2023, as continued easing of concerns about contagion from the recent turmoil in the banking sector.
At the close of trade, the Dow Jones Industrial Average index advanced 141.43 points, or 0.43%, to 32,859.03. The S&P500 index increased by 23.02 points, or 0.57%, to 4,050.83. The tech-heavy Nasdaq Composite Index inclined 87.24 points, or 0.73%, to 12,013.47.
Total 10 of 11 S&P500 sectors ended higher. Real estate was top performing sector, gaining 1.22%, meanwhile information technology (up 1.14%), consumer discretionary (up 0.9%), materials (up 0.64%), and healthcare (up 0.55%) sectors were notable gainers.
ECONOMIC NEWS: The Labor Department released a report showing initial jobless claims rose to 198,000, an increase of 7,000 from the previous week's unrevised level of 191,000.
The Commerce Department's latest report stated real gross domestic product shot up by 2.6% in the fourth quarter compared to the previously reported 2.7% jump. For all of 2022, the U.S. economy expanded 2.1%, down significantly from a robust 5.9% in 2021.
Among Indian ADR, INFOSYS was up 1.06% at $17.14, WNS Holdings was up 1.5% to $92.37, HDFC Bank added 0.03% at $66.08, Azure Power Global rose 5.4% to $2.14, and Wipro was up 0.2% at $4.40. ICICI Bank fell 0.1% to $21.02 and Dr Reddy's labs fell 0.1% to $56.31.
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