Stocks To Watch: Avenue Supermarts, Cipla, Techno Electric, Bajaj Hindusthan – BQ Prime
U.S. stocks erased gains following a sudden pullback in tech shares, while the latest round of earnings spurred gains in big-box retailers.
The S&P 500 dropped sharply from session highs, while the tech-heavy Nasdaq 100 erased gains, falling back toward the day’s lows. The Dow Jones Industrial Average still outperformed major benchmarks, rallying 0.5%.
Elsewhere, oil declined as traders weighed the prospects of an increase in Iranian crude exports amid worsening prospects for global economic growth. Gold slipped with rising treasury yields and Bitcoin remained slightly below $24,000.
Back home, Indian benchmarks rose, aided by gains in auto, energy, oil and gas, FMCG and power stocks, amid slide in Brent crude prices.
The local currency appreciated 14 paise against the U.S. dollar on Tuesday.
