At noon, the Nifty 50 was trading at 25,101.30, up 0.33 per cent, while the BSE Sensex was at 81,967.42, up 0.31 per cent.
Global stocks were poised near record highs on Wednesday, with the next move riding on results at chipmaking market darling Nvidia.
European markets were higher at the open on Wednesday as investors looked to fresh earnings and economic data for clues about the outlook for stocks globally.
The pan-European Stoxx 600 was 0.2 per cent higher at 8:06 AM, London time, with most major regional bourses and sectors trading in the green.
Meanwhile, Asia-Pacific markets were mixed. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent. Japan’s Nikkei was flat.
Australia’s S&P/ASX 200, which hovered near the flatline after the CPI release, closed at 8,071.4. South Korea’s Kospi ended flat at 2,689.83, while Hong Kong’s Hang Seng index and mainland China’s CSI 300 lost 0.88 per cent and 0.79 per cent, respectively.
Oil retraced a recent spike on Middle East tensions as gloom on Chinese demand returned to the fore and Brent crude futures traded just below $80 a barrel.
Nvidia’s market value has ballooned thanks to its dominance of the computing hardware behind artificial intelligence. The stock price is up some 3,000 per cent since 2019 and with a market capitalisation of $3.2 trillion, a move in its shares affects the entire market.
Second-quarter revenue will likely have doubled, though even that may disappoint expectations. Options pricing shows traders anticipate a near 10% – or $300 billion – swing in market value, likely the largest earnings move of any company, ever.
That apart, the S&P 500 went up about 0.2 per cent overnight and futures were steady in Asia, while Nasdaq 100 futures fell 0.1 per cent and FTSE futures rose 0.2 per cent.
