NVIDIA earnings surge, Indian markets barely move amid global rally
NVIDIA's latest earnings blew past expectations, with a massive 106% jump in revenue and a bold forecast for fiscal 2028 revenue growth of 70%.
While this sent global tech stocks soaring, Indian markets barely moved. Nifty edged up just 0.08%, and Sensex slipped by 0.01%.
So, even with all the hype around NVIDIA, local investors didn't see much action today.
Foreign investors net buy ₹502.63 cr
Bajaj Finance and Tech Mahindra were Thursday's top winners on Nifty, rising over 1%. Meanwhile, HDFC Bank and Shriram Finance lost ground.
India's market mood is still shaky thanks to a weak monsoon hurting crops and stubborn US inflation pushing up global interest rates.
Even so, foreign investors showed some optimism by buying net ₹502.63 crore worth of shares for the 3rd day straight.
Nifty may face resistance at 24,350
Experts think Nifty could face resistance at 24,350; if it breaks through, there might be more gains ahead, but dropping below 24,000 could mean further weakness.