The US markets made a sharp bounce back and moved considerably higher on Monday, and the major averages regained ground after ending last Friday's trading at their lowest closing levels in about four months. Traders’ optimism strengthened with FBI once again clearing Democratic presidential nominee Hillary Clinton of criminal charges related to her use of a private email server while Secretary of State, which seemed boosting her chances of emerging victorious on Election Day on Tuesday. On the economy front, a report released by the Federal Reserve said that consumer credit in the U.S. increased by a little more than expected in the month of September. As per Fed report consumer credit climbed by $19.3 billion in September after jumping by an upwardly revised $26.8 billion in August. The Fed also said that non-revolving credit such as student loans and car loans increased by $15.1 billion in September after surging up by $21.2 billion in August.
The Dow Jones Industrial Average surged by 371.32 points or 2.1 percent to 18,259.60, the Nasdaq soared 119.80 points or 2.4 percent to 5,166.17 and the S&P 500 ended higher by 46.34 points or 2.2 percent to 2,131.52.
All the Indian ADRs ended higher on Monday, Tata Motors was up by 1.29%, Infy was up by 0.20%, HDFC Bank was up by 0.50%, ICICI Bank was up by 0.53% and Dr Reddy’s was up by 0.43%.