- Sensex closed above the 77,000 mark amid a volatile session.
- Nifty 50 ended strong at 23,437 points; IndusInd Bank was the top gainer.
- Nvidia-led tech sell-off pressured US futures; Nasdaq fell over 1% premarket.
Indian stock markets displayed strength despite a shaky global backdrop. The Sensex ended the session above the 77,000 level and the Nifty closed at 23,437.
On the global front, U.S. equity futures faced downward pressure. This followed Nvidia’s announcement of new export restrictions on its AI chips to China. The Nasdaq futures were hit the hardest, falling 1.1% due to Nvidia‘s projected $5.5 billion loss.
Nifty Holds Ground, US Tech Stocks Tumble After Nvidia’s China Setback
The Indian stock market showed resilience as investors shrugged off mixed international cues. The Sensex rallied above the psychological 77,000 mark, driven by gains in banking stocks. Meanwhile, the Nifty 50 saw steady buying interest to close at 23,437. The pre-open session set a strong tone, supported by optimism around earnings and stable domestic economic indicators.
IndusInd Bank stood out among the top gainers, with robust buying interest pushing its stock higher. Broader market sentiment improved as traders bet on continued sectoral rotation and policy stability ahead of earnings season. Sectors like financials, auto, and infrastructure contributed positively to the day’s performance.
In contrast, U.S. markets struggled with weakness in the tech sector. Nvidia’s announcement of U.S. government restrictions on exports of its H20 AI chip to China sent shockwaves through global tech stocks. The $5.5 billion projected charge significantly dented investor sentiment. Consequently, Nasdaq futures slid over 1%.
Adding to the uncertainty was Donald Trump’s statement confirming his involvement in upcoming trade talks with Japan. Markets interpreted this as a signal of potential friction or new policy shifts. Evercore analysts noted Japan’s resistance to interest rate negotiations, though FX flexibility and tariff relief could be part of a broader compromise.
While Indian equities remained buoyant on strong domestic fundamentals, global tech concerns and trade policy uncertainty are likely to keep markets cautious in the near term.
“When America sneezes, the world catches a cold.” — This old saying reflects how Nvidia’s troubles and U.S. trade uncertainty sent ripples across global markets, even as Indian indices held steady.
