U.S. stocks wavered on Friday after a $2.7 trillion rally in November that was fueled by bets the Federal Reserve will end its hiking cycle to prevent an economic recession. The dollar erased its 2023 advance, reports Bloomberg.
The S&P 500 index and Nasdaq 100 fell by 0.01% and 0.25%, respectively, as on 10:43 p.m. New York time. The Dow Jones Industrial Average declined by 0.08%.
Brent crude was trading 2.71% higher at $79.52 a barrel. Gold also gained 0.10% to trade at $1,982.95 an ounce.
India’s benchmark stock indices swung between gains and losses through Friday, following a mixed U.S. close on Thursday. Banks, NBFCs and energy sectors dragged, whereas fast-moving consumer goods and autos rose.
The Nifty Bank and Nifty Financial Services constituents took a hit on Friday after the RBI’s action on rising consumer loans worried investors.
The S&P BSE Sensex closed 188 points down, or 0.28%, at 65,794.73, while the NSE Nifty 50 ended 33 points, or 0.17%, lower at 19,731.80.
Overseas investors turned net sellers on Friday after being net buyers over the last two sessions. Foreign portfolio investors offloaded stocks worth Rs 477.8 crore, while domestic institutional investors—who have been net buyers since Oct. 14—also turned sellers and sold equities worth Rs 565.5 crore, the NSE data showed.
The Indian rupee weakened 3 paise to close at 83.27 against the U.S dollar on Friday.