US markets made a flat closing on Friday, though the markets seemed in a rally mood in early trade as investors welcomed Spain's efforts to seek a bailout and cheered Apple's newest iPhone that went on sale, driving its shares to a record high, but sell-off in transportation sector and some commodity stocks led the decline in mid afternoon trade. Stocks moved after the debt-laden country Spain said it was considering freezing pensions and speeding up a planned rise in the retirement age as it raced to cut spending and meet conditions of an expected international sovereign aid package.
In economy news, according to Federal Reserve data, household debt in US posted largest rise since 2008. Household debt climbed $39.4 billion, the first gain in over a year, to $13 trillion in the second quarter
The Dow Jones industrial average lost 17.46 points, or 0.13 percent, to close at 13,579.47. The Standard & Poor's 500 Index was tad lower by 0.11 points or 0.01 percent, to finish at 1,460.15, while the Nasdaq Composite Index gained 4.00 points or 0.13 percent to close at 3,179.96.
Indian ADRs closed mostly in green on Friday, HDFC Bank was up by 0.76%, ICICI Bank was up by 2.09%, Infosys was up by 0.86%, Tata Motors was up by 0.71% and Wipro was up by 0.17%.