The Nasdaq closed 1.4% lower and the S&P dipped slightly on Tuesday as investors sold off technology stocks that benefited from virus lockdowns, favoring sectors that have suffered most during the pandemic instead on hopes a COVID-19 vaccine will turn the economy around.
The Dow Jones Industrial Average rose 262.95 points, or 0.9%, to 29,420.92, the S&P 500 lost 4.97 points, or 0.14%, to 3,545.53 and the Nasdaq Composite dropped 159.93 points to 11,553.86.
Oil ended nearly 3% higher on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus.
🎯 News & Impact 🎯
🎯 Tata Power :
Company reported higher profit at Rs 370.9 crore in Q2FY21 compared to Rs 338.5 crore, revenue rose to Rs 8,289.8 crore from Rs 7,677.8 crore YoY.
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🎯 Sugar stocks :
India revives plans to offer incentives for 6 million tonnes sugar exports.
Positive for the stocks.
🎯 Pfizer :
Company is in discussion with government to bring its COVID-19 vaccine to India: Mint Report.
🎯 ONGC :
ONGC Videsh through its wholly owned subsidiary has signed definitive binding agreements with FAR Senegal RSSD SA (Seller), a wholly owned subsidiary of FAR Limited (FAR) for acquiring 13.6667 percent participating interest in Exploitation Area (Sangomar Field) and 15 percent participating interest in Remaining Contract Area (Exploration Area) of Rufisque, Sangomar Offshore and Sangomar Deep Offshore (RSSD) Block, Offshore Senegal.
🎯 Wipro : Company wins five-year software engineering services engagement from ThoughtSpot.
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