Dow Jones pulled off a gain in yesterday’s session as Goldman Sachs shrs turned positive,

Dow Jones pulled off a gain in yesterday’s session as Goldman Sachs shrs turned positive, taking much of the banking sector with them; Indian ADRs ended mostly up; HDFC Bank up 1.28%

The Dow Jones pulled off a gain in yesterday’s session as Goldman Sachs shares turned positive, taking much of the banking sector with them. The selling pressure from Friday had carried over into the start of trading, with the CBOE volatility index climbing to nearly 20.

But things turned around in the final hour of trading, with the Dow, VIX and shares of Goldman Sachs recovering following news that the SEC decision to press on with charges of fraud against Goldman Sachs was only secured with a 3-to-2 vote, which suggested that the case might not be so strong.

In earnings watch, Citigroup shares jumped 7% after the bank blew past earnings and revenue expectations.

In economic news, leading indicators jumped 1.4% to a record high in March, after an upwardly revised 0.4-percent increase in February.

At the end of trade, the Dow Jones closed 73 points higher at 11,092, the S&P 500 shut shop at 1,197 while the Nasdaq closed absolutely flat at 2,480.

In the currency market, the dollar index is trading flat while the euro sees marginal gains versus the dollar

In commodities, crude fell more than 2% briefly touching a three-week low below 81 dollar as flying restrictions in Europe ate into jet fuel demand.

Base metals continued to give up sheen. Copper prices fell to a three-week low as investors sold riskier assets including commodities. Metals like aluminium saw sharp cuts and traded more than 2% down.

Indian ADRs ended mostly up on Monday. In Banking space, HDFC Bank was up 1.28% at $ 146.06 and ICICI Bank was up 0.51% at $ 41.02. In Telecom space, MTNL was up 0.61% at $ 3.31 while Tata Communication was unchanged at $ 12.42.

In IT space, Satyam Computers was up 1.32% at $ 5.39 and Patni Computers was up 0.95% at $ 25.52 while Infosys stood down 0.37% at $ 61.75 and Wipro was down 1.82% at $ 23.26.

In other sectors, Dr Reddy’s Labs was up 0.56% at $ 26.75, Tata Motors was up 0.31% at $ 19.39 while Sterlite Industries was down 1.08% at $ 18.29.

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