Indian semi-conductor stocks rally after Nvidia's record gain

Semi-conductor maker Nvidia on Thursday added $277 billion in a single trading session after reporting more than expected fourth quarter results. This record gain of the stock has now triggered a rally in Indian semiconductor stocks.

Stocks ASM Technologies and SPEL Semiconductor gained up to 10% on Friday.

ASM Technology

ASM Technology's shares closed with 10% gain at Rs 926 on Friday. On year-to-year basis, the stock is up more than 78% and in 5 years it has zoomed over 1,500%.

Also Read: Nvidia's market cap skyrockets: Surpasses Meta's record with $277 billion gain

As per Moneycontrol, in February alone, ASM Technology which provides service to reputed semiconductor equipment manufacturers rallied 83%.

“ASM Technology saw a lot of buying interest as it came out of 19 years of its consolidation range. A two-year breakout is seen in the stock and hence the demand for shares will be there, basis the chart study,” Darpan Patil, founder of Rupic consultancy told Moneycontrol.

SPEL Semiconductor

SPEL Semiconductor hit its upper circuit level on Friday morning and closed at Rs 119, gaining 5%. In February so far, the company's shares have surged 56% and in the last one year the shares are up by 195%.

The firm has a semiconductor Integrated Circuit assembly and testing facility. It is also a strategic contract manufacturing partner for several world-leading chipmakers offering packaging solutions for Semiconductors used in diverse end-market applications including communication, consumer electronics, computing, industrials and automotive