Nvidia pulls US markets higher yet again; GIFT Nifty down

US markets surged on March 18, led by gains in Nvidia. Nvidia’s Artificial Intelligence (AI) conference on GPU Technology held on March 18 and the awaited Federal Reserve meeting coming in later this week pushed the indices higher.

At 8:30 pm, the S&P 500 rose 1.05 percent to 5,170.79 and the Nasdaq Composite surged 1.58 percent to 16,225.95. The Dow Jones Industrial Average traded 0.40 percent higher at 38,869.67. The Nvidia shares were up 1.13 percent at 888.30.

The GIFT Nifty, however, was down 0.14 percent at 22,106.00.

European markets declined marginally ahead of central bank meetings coming in later this week. The FTSE was down 0.08 percent at 7,721.70 and the CAC traded 0.29 percent lower at 8,140.22. The German DAX also declined 0.13 percent to 17,913.28.

The European markets saw a mixed session. Germany’s DAX hovered close to record high levels, up 0.26 percent at 17,989.20. The CAC was up half a percent at 8,207.19 while the FTSE traded flat-to-negative at 7,739.26.

Earlier during the day, the Japanese Nikkei witnessed a volatile session. The index ended 2.67 percent lower at 39.740.44 despite having surged 2 percent during intraday. This market movement is driven by the anticipated Bank of Japan (BOJ) meeting scheduled for Tuesday. The Hang Seng index on the other hand ended flat-to-positive at 16,737.12.

The Indian indices recovered Friday’s losses and ended positive. The Nifty was up 0.15 percent at 22,055.70 and the Sensex traded 0.14 percent higher at 72,748.42.

DIIs net purchased Rs 2,260.88 and the FIIs/FPIs net sold Rs 2,051.09 crores.

Crude recovered previous week’s losses and edged 0.62 percent higher at 81.54. Brent also rose half a percent to 85.80.