The U.S. stock market closed its second straight session higher on Wednesday, July 21, 2021, as investors continued to hunt for recently collapsed stocks amid positive quarterly results from companies such as Verizon and Coca-Cola.
At the close of trading, the Dow Jones Industrial Average rose 286.01 points, or 0.83%, to 34,798 points. The S&P 500 Index added 35.63 points, or 0.82%, to 4359 points. The high-tech Nasdaq Composite Index rose 133.08 points, or 0.92%, to 14,632 points.
In total, 8 of the 11 sectors of the S&P 500 were in positive territory, of which the energy sector (up 3.53%) was the leader in growth, followed by finance (up 1.71%), materials (down 1.09% ), industry (growth by 1%), information technology (growth by 0.98%). ), consumer (growth by 0.81%) and communication services (growth by 0.73%).
Continued growth on Wall Street reflects in part a positive reaction to recent earnings and loss news from several large companies.
Coca-Cola (KO) and Verizon (VZ) rallied after posting better-than-expected quarterly results and raising their full-year outlook. Healthcare giant Johnson & Johnson (JNJ) also closed higher after reporting second-quarter results that beat analysts’ estimates.
Among Indian ADRs, Tata Motors added 0.39% to $ 20.52, INFOSYS added 1.77% to $ 21.31, WNS Holdings added 0.37% to $ 81.28, ICICI Bank added 0.69% to $ 17 , $ 52, HDFC Bank added 1.34% to $ 70.27. Wipro added 0.85% to $ 8.28. Vedanta rose 2.25% to $ 14.06, while Dr Reddys Labs gained 0.67% to $ 72.07.
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(This story has not been edited by the Business Standard staff and is automatically generated from a syndicated feed.)