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Nvidia’s valuation hits USD 2 tn: Nvidia continued its rally on Friday, with its valuation briefly hitting USD 2 tn for the first time ever. The US chipmaker made the biggest single-day market cap gain in history by adding USD 277 bn to its valuation on Thursday after its quarterly revenues rose 265% y-o-y on the back of a splurge in AI spending. The company’s shares have risen over 59% since the beginning of the year, “contributing to more than a quarter” of the S&P 500’s rise this year, Reuters reported.
SPEAKING OF- The S&P 500 and Dow Jones reached fresh highs on Friday as the AIcraze kept the rally going. “Nvidia is one of the key companies, if not the key company, for driving the Nasdaq and S&P 500 higher,” chief market strategist at Ameriprise Anthony Saglimbene told Reuters.
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TASI |
12,634.33 |
+0.2% (YTD: +5.6%) |
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MSCI Tadawul 30 |
1,628.17 |
+0.1% (YTD: +5%) |
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USD : SAR (SAMA) |
3.75 Sell |
3.75 Buy |
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Interest rates |
6% repo |
5.5% reverse repo |
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EGX30 |
29,309.73 |
+0.1% (YTD: +17.7%) |
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ADX |
9,279.94 |
-0.4% (YTD: -3.1%) |
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DFM |
4,225.90 |
-0.1% (YTD: +4.1%) |
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S&P 500 |
5,088.80 |
+0.03% (YTD: +6.7%) |
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FTSE 100 |
7,706.28 |
+0.3% (YTD: -0.4%) |
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Euro Stoxx 50 |
4,872.57 |
+0.4% (YTD: +7.8%) |
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Brent crude |
USD 81.62 |
-2.5% |
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Natural gas (Nymex) |
USD 1.60 |
-7.5% |
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Gold |
USD 2,049.40 |
+0.9% |
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BTC |
USD 51,477.90 |
+0.9% (YTD: +118.5%) |
THE CLOSING BELL-
The TASI rose 0.2% yesterday on turnover of SAR 8.6 bn. The index is up 5.6% YTD.
In the green: Amiantit (+9.8%), Al Baha (+7.1%) and Salama (+4.9%).
In the red: Gaco (-4%), Maharah (-3.3%) and Budget Saudi (-3%).
CORPORATE ACTIONS-
#1-Saudi Arabian Amiantit shareholders approved a 350% capital increase to SAR 445.5 mn through issuing bonus shares, it said in a disclosure to Tadawul.
#2- Room Trading’s BoD recommended a dividend payout of SAR 4.7 mn at SAR 0.75 per share for 4Q 2023, it said in a disclosure to Tadawul. Eligible shareholders will be able to cash out the payments 15 working days post the 3 May due date.
