Nvidia's Stock Surge Reflects Rising Demand for AI Chips Across Industries

Positive Cues from Wall Street and Asia, GIFT Nifty Points to Bullish Start for Indian Markets

The company reported positive performance in its quarterly and annual financial statements.

After an optimistic start to the year driven by better inflation numbers in the US and other major economies, past fortnight investor sentiments seemed more mixed due to rising growth concerns 

The real action was seen in the broader markets, with Nifty Midcap and Small-cap index ending the day with gains of 0.36 and 0.55 per cent, respectively. As a result, the advance decline ratio was titled in favor of advances.

The majority of the sectors ended with gains, led by Nifty Metal, which surged over 1 per cent. It was followed by Nifty Financial Services, which rose 0.91 per cent.   

There is an interesting observation that in the year 2021, the company declared a whopping 900 per cent dividend i.e. Rs 90. Earlier as well, the company had a history of declaring solid interim dividends.

Following weaker-than-anticipated earnings from two major US banks, JPMorgan Chase and Morgan Stanley, the major Wall Street indices fell on Thursday.  

A long-awaited report on US inflation turned out to be even worse than expected, fuelling speculation that Federal Reserve will tighten interest rates even further.