US Markets trade mixed, Nasdaq surges as Tesla reports strong earnings; GIFT Nifty down

Global Markets Outlook

The US markets traded mixed on April 24 with the S&P 500 trading flat-to-positive at 5,070.68. The Nasdaq Composite traded 0.38 percent higher at 15,760.06, riding on the back of strong earnings reported by Tesla. The Dow Jones Industrial Average however fell 0.21 percent to 38,422.03.

At 9:15pm IST, Tesla stock jumped 12.29 percent to 162.46  USD after the company announced its intensions of unveiling new models by 2025.

GIFT Nifty receded from previous day’s gains and fell 0.34 percent to 22,343.00.

The European markets lost momentum and were trading in the red on Wednesday. The FTSE traded marginally lower at 8,041.26 and the DAX was down 0.29 percent at 18,085.72. The CAC was dragged by the Kering stock and the index declined 0.19 percent to 8,090.31. Kering SA fell 6.25 percent to 328.30 EUR upon reporting expectations of a sharp downturn in the profits of the first half of the quarter, amid decreasing demand for its Gucci brand.

Earlier during the day, the Asian markets surged with the Nikkei leading the gains. Nikkei ended 2.42 percent higher at 38,460.08 while the Hang Seng came close, up 2.21 percent at 17,201.27.

The Indian indices also ended higher with the Nifty up 0.15 percent at 22,402.40. The Sensex was up 0.16 percent at 73,852.94, extending its winning streak to a fourth day in a row.

DIIs net purchased Rs 3,809.90 crores while the FIIs/FPIs continued to sell for a third day, with net sales for Wednesday at Rs 2,511.74 crores.

Crude declined despite the US Energy Information Administration reporting an estimated decline of 6.4 million barrels in inventories for the week ended April 19. WTI Crude was down 0.60 percent to $82.86 and the Brent declined 0.40 percent to $88.07.