The US markets just after a day of surge, consolidated again on Monday and made a flat closing after a lackluster day of trade, though the Nasdaq and the S&P 500 inched up to new record closing highs. Traders digested news of pro-European centrist Emmanuel Macron's victory in the French presidential election over the weekend. After winning the election with some 66 percent of the vote, Macron vowed to heal the social divisions exposed by France's acrimonious election campaign. On the domestic front lack of major U.S. economic data kept some traders on the sidelines. Meanwhile, Wall Street's “fear gauge” dropped to its lowest in over two decades. The CBOE Volatility index dropped 0.8 point to close at 9.77, its lowest since 1993 as investors took comfort from Macron's victory, as well as from strong quarterly reports in recent weeks.
The Dow Jones Industrial Average was up by 5.34 points or 0.03 percent to 21,012.28, the Nasdaq added 1.90 points or 0.03 percent to 6,102.66 and the S&P 500 was tad higher by 0.09 points to 2,399.38.
Indian ADRs made mixed closing on Monday, ICICI Bank was up by 0.18%, HDFC Bank was up by 0.89% and Infy was up by 0.08%. On the other hand Tata Motors was down by 1.19% and Dr Reddy’s was down by 0.09%.