The US markets made a mixed closing on Tuesday after fluctuating for most part of the session, though there was initial buying in the markets but buying interest remained relatively subdued, as traders expressed continued uncertainty about the outlook for interest rates and the global economy. Traders drew some confidence with the Conference Board report that its consumer confidence index climbed to 103.0 in September from 101.3 in August. Economists had expected the index to pull back to 96.0.
There was some pressure on the housing stocks after Philadelphia Housing Sector Index declined by 1.7 percent. With the drop, the index fell to an eight-month closing low. Also, a a report from Standard & Poor's showed an unexpected drop in home prices in major metropolitan areas in the month of July.
The Dow Jones Industrial Average rose by 47.24 points or 0.3 percent to 16,049.13 and the S&P 500 gained 2.32 points or 0.1 percent to 1,884.09, while tech-heavy Nasdaq declined by 26.65 points or 0.6 percent 4,517.32.
Indian ADRs ended in green, HDFC Bank was up by 1.95%, ICICI Bank was up by 0.11%, Tata Motors was up by 0.08%, Wipro was up by 0.35% and Dr Reddy’s lab was up by 0.23%.