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The broader Nifty also showed some resistance initially but gave in to the selling pressure and declined 148.40 points or 0.67 per cent to 21,906.65 points. Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian equities on Thursday rose in a sign of fresh momentum in global equities after Nvidia Corp unveiled a better-than-expected revenue forecast.
Nvidia Corp’s solid results and outlook bolstered confidence in the artificial intelligence frenzy that has powered the stock market resurgence, he added.
On Wednesday, US stocks finished mostly higher while European shares ended on a mixed note.
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On Wednesday, Sensex and Nifty snapped their six-day winning streak. While Sensex fell 434.31 points to close at 72,623.09 points, Nifty declined 141.90 points to end the day at 22,055.05 points.
Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they purchased securities worth Rs 284.66 crore.