Share Market Close: Indian stock markets ended in green amidst high volatility with Sensex adding 170 pts and Nifty around 50 pts. Adani Enterprises and Bajaj Finance jumped, while Power Grid and Bajaj Auto shed. Oil & Gas index dropped 4%, while IT remained stable.
Adani stocks were under keen watch today and displayed a mixed performance with Adani Enterprises and Adani Ports gaining but Adani Total and Adani Green tanking. Adani Group released a 400-page rebuttal on Sunday on allegations levied on them by Hindenburg Research.
30 Jan 2023, 07:29:12 AM IST
Wall Street adds more to its big January after strong week
A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December.
The S&P 500 rose 0.2% to clinch its third winning week in the last four and was near its highest level since the summer, before fading at the end of the day. It’s rallied through January on growing belief inflation is on a steady downswing, hopefully leading to less pressure on the economy and markets.
The Dow Jones Industrial Average rose 28 points, or 0.1%, while the Nasdaq composite gained 0.9%.
Helping to lead the way was American Express, which jumped 10.5% despite reporting weaker profit and revenue for the latest quarter than expected. It gave a forecast for earnings through 2023 that topped Wall Street’s expectations and announced a planned increase to its dividend.
Another big gain for Tesla's stock also supported the market. It rose 11% following its stronger-than-expected profit report for the end of 2022 released earlier in the week.
They helped offset a 6.4% loss for Intel following a jarring warning from the chipmaker. Not only did its revenue and earnings fall short of expectations last quarter, it also gave a forecast for revenue this quarter more than $2 billion below analysts’ expectations.
All told, the S&P 500 rose 10.13 points to 4,070.56. The Dow climbed 28.67 to 33,978.08, and the Nasdaq gained 109.30 to 11,621.71. (Reuters)