Indian stock market: 5 key things that changed for market overnight - Gift Nifty to Nvidia results, US Fed meet minutes
Sensex gained 267.75 points, or 0.36%, to close at 74,221.06, while the Nifty 50 ended 68.75 points, or 0.31%, higher at 22,597.80.“Despite weak global cues, markets moved in a range and were positive for most part of the trading session aided by selective buying in IT, FMCG and realty stocks. The mood is currently of utmost caution, as investors don’t want to risk taking major exposure to equity assets with a couple of weeks left for the poll outcome," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.Here are key global market cues for Sensex today:The Gift Nifty today morning is trading lower by more than 10 points from Wednesday close.
The Indian stock market is expected to open with minor losses.The chipmaker Nvidia posted its first quarter earnings after market hours in US on May 22. Net income of Nvidia surged to $14.88 billion in the first quarter ended April 28, up more than seven-fold from $2.04 billion a year earlier.
Revenue tripled to $26.04 billion from $7.19 billion in the previous year's quarter.A 10-for-1 stock split, which divides one share into ten, has also been announced. NVIDIA will additionally pay a quarterly dividend of 10 cents, representing a 150 per cent increase.Also read: Nvidia profit soars over 600%, shares top $1,000: From 10:1 stock split to dividend – key highlights from resultsThe minutes of the last meeting released by the US Fed showed that some of the officials are willing to raise interest rates.
This hawkish stance did not go well with the markets.“Participants noted disappointing readings on inflation over the first quarter," said the minutes released by the FOMC from May 1 meeting. "It would take longer than previously anticipated for them to gain greater confidence
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