Nifty Ends Lower on Volatility; Dow Futures Trade Lower

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Nifty Ends Lower on Volatility; Dow Futures Trade Lower

By Aditya Raghunath -- Lack of direction and volatility caused Nifty 50 and the BSE Sensex 30 to trade range-bound, and they closed 0.2% and 0.23% lower today.

SBI Life Insurance Company Ltd (NS: SBIL ) closed up 3.96% after it reported its numbers today. Bajaj Finserv Ltd (NS: BJFS ) gained 2,38%, followed by Hindalco Industries Ltd. (NS: HALC ) and Divi's Laboratories Ltd. (NS: DIVI ) which gained over 1.8% each.

JSW Steel Ltd (NS: JSTL ) fell 1.8% while Reliance Industries Ltd (NS: RELI ) and Wipro Ltd (NS: WIPR ) lost over 1.5% each. State Bank Of India (NS: SBI ) lost 1.41% today.

Zomato Ltd (NS: ZOMT ) shares continued their momentum, gaining 9.56% at the end of day. ICICI Bank Ltd (NS: ICBK ) shares surged to their 52-week high after it reported its Q1 numbers before closing flat today.

In Asia, Nikkei 225 gained 1.04% while KOSPI 50 and the Shanghai Composite fell 0.91% and 2.34% respectively. China is cracking down on edtech companies and the repercussions are being felt in the Chinese and US markets.

US stock markets are poised to open lower, as the ongoing spread of Covid-19 across the country raises fears of renewed restrictions on business and social life. The onslaught against Chinese tech companies, meanwhile, continues to put pressure on their American Depositary Receipts.

As of this report, Dow Jones 30 Futures were down 0.31%, just off the record high close of last week. S&P 500 Futures were down 0.2% and Nasdaq 100 Futures were down 0.12%.

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