The US markets closed higher on Wednesday, on the final day of the third quarter, but the main indexes still ended the month and a quarter with steep losses. On the economy front, buoyed by strong consumer spending and steady home sales, businesses in the United States added jobs at a healthy pace in September. Employers added 200,000 jobs this month, the payroll processor ADP reported, up from 180,000 in the previous month. The job total for August was revised lower. Americans are spending more freely and buying big-ticket items like new cars and homes. That is countering weak economies overseas and the strong dollar, which are cutting into exports. The ADP survey covers only private businesses and frequently diverges from the official figures. The government will issue its official jobs report for September on Friday. However, a measure of Chicago-area manufacturing dropped sharply into contraction territory in September. The Chicago PMI fell to 48.7 in September from 54.4 in August, on a scale where readings below 50 indicate deteriorating activity. The production growth collapsed and new orders fell sharply.
The Dow Jones Industrial Average rose by 235.57 points or 1.47 percent to 16,284.70, Nasdaq added 102.85 points or 2.28 percent 4,620.17 while the S&P 500 gained 35.94 points or 1.91 percent to 1,920.03.
Indian ADRs ended in green, Dr Reddy’s lab was up by 2.30%, Infosys was up 1.04%, HDFC Bank was up by 0.97%, Tata Motors was up by 0.69% and Wipro was up by 0.28.