Mandar Wagh and Kamal Mansuriya shed light on the driving forces propelling this optimism and offer insights into how individuals can capitalise on these developments to their benefit
A majority of global stock indices have staged a robust comeback following their earlier setbacks caused by the impacts of the corona virus pandemic and the war between Russia and Ukraine. During 2022, the Nasdaq Composite index faced a significant decline, plummeting by over 33 per cent. However, it has since made a remarkable rebound, soaring by around 25 per cent year-to-date, leaving investors pleasantly surprised. The robust upswing was primarily attributed to heavyweight companies such as Apple Inc., Microsoft Inc., Amazon.com Inc., NVIDIA Corporation, Meta Platforms Inc. and Alphabet Inc. All these companies have been capitalising on the prevailing optimism surrounding the artificial intelligence (AI) industry.
NVIDIA Corporation, in particular, witnessed a meteoric rise in its share prices, generating impressive returns exceeding 190 per cent, thanks to its expansion in AI product offerings, solidifying its position as an AI industry leader. Additionally, Tesla Inc. witnessed its shares climb by around 120 per cent as it continued to accelerate the global shift toward sustainable energy through its electric vehicles (EV). Indian benchmark indices have exhibited impressive resilience in the past six months, departing from their previous range-bound movements and consistently reaching new record highs.
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