The US markets made a mixed closing on Wednesday as trade turned choppy after two consecutive days of rally amid uncertainty about the near-term outlook for the markets following recent strength. Though, any kind of profit booking was averted with payroll processor Automatic Data Processing (ADP) report showing that private sector employment increased by more than expected in the month of February. ADP said private sector employment increased by 198,000 jobs in February following an upwardly revised increase of 215,000 jobs in January. However, in a separate report Commerce Department showed a notable decrease in factory orders in the month of January, although the drop was largely due to weakness in the volatile transportation sector.
The Dow Jones Industrial Average reaching a new record closing high gained 42.47 points or 0.30 percent to 14,296.24, the S&P 500 inched up by 1.67 points or 0.11 percent to 1,541.46. While, the Nasdaq edged down 1.77 points or 0.05 percent to 3,222.37.
The Indian ADRs made a mixed closing on Wednesday, HDFC Bank was down by 0.20% and ICICI Bank was down by 0.36%, on the other hand Wipro was up by 0.17%, Tata Motors was up by 0.46% and Infosys gained 0.61%.