iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

US Stocks rally for a second day

29 Jul 2022 , 08:12 AM

The US share market finished session notably higher on Thursday, 28 July 2022, after recouping early losses, amid optimism that the Federal Reserve would slow the pace of its interest rate hikes at future meetings. The early weakness on Wall Street came following the release of a Commerce Department report showing a continued contraction in U.S. economic activity in the second quarter of 2022. At the close of trade, the Dow Jones Industrial Average index surged by 332.04 points, or 1.03%, to 32,529.63. The S&P500 index spurted by 48.82 points, or 1.21%, to 4,072.43. The tech-heavy Nasdaq Composite Index increased by 130.17 points, or 1.08%, to 12,162.59. Total 10 of 11 S&P500 sectors closed higher, with real estate issue enjoyed largest percentage gain, rising 3.7%, followed by utilities (up 3.5%), industrials (up 2.07%), materials (up 1.69%), and consumer discretionary (up 1.67%). Ford Motor shares climbed up 6.1% after the company reaffirmed its 2022 outlook and hiked the Ford stock dividend after crushing earnings estimates for the second quarter. On the flip side, shares of Meta Platforms dipped 5.2% after the parent of Facebook and Instagram reported weaker than expected second quarter results, including its first ever year-over-year drop in revenues. Shares of Comcast slid 9.1% after reporting it failed to add broadband subscribers for first time ever. ECONOMIC NEWS: The Commerce Department said real gross domestic product decreased by 0.9% in the second quarter after slumping by 1.6% in the first quarter. Among Indian ADR, Tata Motors added 2.47% to $28.19, INFOSYS added 2.35% to $19.15, Wipro added 1.55% to $5.24, and HDFC Bank added 3.55% to $62.08. ICICI Bank inclined 2.18% to $20.64, WNS Holdings added 2.7% to $86.27, and Azure Power Global added 6.28% to $12.18. Dr Reddys Labs fell 3.8% to $52.33. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.