Markets ended flat on the first day of the May series. The Sensex ended at 17,134 - up just three points. Nifty ended flat at 5,191. Markets gave off morning gains after bourses in Europe opened on a weak note but stabilised thereafter. BSE PSU index slipped nearly 1% to 7,099. FMCG, metal and realty stocks also witnessed selling pressure with the indices slipping around 0.8% each. However, BSE IT index gained 1.2% to 5,568.

Metals shares were in the red. Tata Steel, Jindal Steel and Sterlite were down around 1% each. Other losers included Bajaj Auto, Bharti Airtel and ITC. ITC has been inching continuously in April series, The stock is expected to witness some amount of profit booking but is unlikely to fall sharply, says Shailesh Kadam, AVP, Institutional Derivatives, PINC.

Market heavyweight, Reliance, slipped 0.5% at Rs 742. RIL has reported natural gas production from its eastern offshore KG-D6 fields dropping to less than 34 million standard cubic meters a day. BSE market breadth was neutral. Out of 2,895 stocks traded, 1,113 shares declined while 1,019 shares advanced.