Market End Flat After Volatile Day; US Futures Trading Up on Earnings Optimism

  • Stock Market News
Market End Flat After Volatile Day; US Futures Trading Up on Earnings Optimism
Credit: © Reuters.

By Aditya Raghunath -- Indian markets opened in the red but managed to cover up almost all their losses to end flat after a volatile day’s trading. Nifty 50 closed up 3 points while the BSE Sensex 30 closed down 63 points.

Major winners on the Nifty were SBI (NS: SBI ) Life Insurance Company Ltd (NS: SBIL ) (up 5.43%), Bharti Airtel Ltd. (NS: BRTI ) and Adani Ports and Special Economic Zone Ltd Future who gained over 4.5% each, and Tata Steel Ltd (NS: TISC ) (up 3.2%).

The biggest loser on the market was Titan Company Ltd (NS: TITN ) that dropped 4.56% after posting less-than-flattering results. IndusInd Bank Ltd. (NS: INBK ) also lost 2.29% after its NPAs (non-performing assets) ratio worsened. Nifty Bank lost 0.96% today as well.

Markets gained in the last 1.5 hours of the trading session after European markets opened strong on May's first day of trading. Lyxor UCITS CAC 40 (DR) D-EUR (PA: CAC ) is trading up 0.12% and DAX is up 0.4% at the time of this report.

Investors bullish about the global economic recovery are looking ahead to a busy week for US economic data that is expected to underline the strength of the rebound. Investors' optimistic mood, enhanced by a strong run of corporate earnings the past two weeks, has extended into May in Europe.

US futures are all trading up with Dow Jones Industrial Average , S&P 500 Futures and Nasdaq 100 Futures up 0.5%, 0.38% and 0.1% respectively.

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