Indian Shares Surge On Nvidia Boost

(RTTNews) - Indian shares closed higher on Thursday, with underlying sentiment buoyed by recovering foreign fund inflows and Nvidia's blowout earnings.

The benchmark BSE Sensex surged 446.21 points, or 0.52 percent, to 85,632.68 while the broader NSE Nifty index ended up 139.50 points, or 0.54 percent, at 26,192.15.

Despite ending off their day's highs, both indexes inched closer towards their peak levels hit in September last year.

Global brokerage HSBC said it expects BSE Sensex to rise about 10 percent by end-2026 to 94,000 on the back of earnings recovery and attractive valuations after a 14-month lull.

In the broader market, the BSE mid-cap and small-cap indexes slid 0.1 percent and 0.2 percent, respectively.

The market breadth was weak on the BSE, with 2,307 shares falling while 1,865 shares rose and 181 shares closed unchanged.

Among the top gainers, Axis Bank, Tech Mahindra, HDFC Bank, Reliance Industries, Bajaj FinServ and Bajaj Finance climbed 1-2 percent.

Globally, Asian markets rose broadly and European stocks opened higher after computer chip maker Nvidia delivered stellar third-quarter earnings and fourth-quarter forecast. The company also struck a confident tone about the durability of the artificial intelligence (AI) cycle.

Oil prices bounced back after falling sharply in the overnight U.S. trading session on signs of weaker demand in the U.S. and easing supply concerns.

Traders weighed the latest geopolitical developments and risks to Russian supplies before U.S. sanctions on Russia's Rosneft PJSC and Lukoil PJSC take effect on Friday.

Meanwhile, media reports suggested that the Trump administration was working on a fresh peace plan with Russia to end the war in Ukraine.

Gold ticked lower after a two-day gain. Bullion was under pressure from a stronger dollar after the Federal Reserve's October meeting minutes revealed officials had mixed views about the outlook for interest rates and the inflationary impact of tariffs.