Wall Street's tech bulls celebrated a significant breakthrough as Nvidia shares rose nearly 3% to trade 1.9% higher, with the company announcing plans to raise a minimum of $20 billion in its first high-grade bond sale since 2021. The broader AI-linked companies and chipmakers experienced massive gains, with Micron and AMD soaring nearly 9% to intraday highs of $1,076.79 and $558.37 respectively. Intel's stock had initially risen over 7% to $132.61 but later pared gains to trade 2.9% higher near day's low. SpaceX extended its listing day gains into the second day of trade, rising as high as over 8% to $175 after closing at $160 levels on Friday, though it later pared some gains to trade 7% higher at $172.27.
Several stocks demonstrated strong upward momentum on June 11, driven by technical breakouts and sustained buying interest. PPAP Automotive surged 11.52% to ₹235.59, supported by its partnership with Hutchinson to manufacture advanced body sealing systems in India. The stock is trading above all key moving averages including the 30-day (₹211.26), 50-day (₹207.90), 150-day (₹214.95), and 200-day (₹219.07) levels, signalling strong bullish momentum. Voler Car gained 4.98% to ₹245.00, remaining comfortably above its 30-day, 50-day, 150-day, and 200-day moving averages, indicating positive medium- to long-term trend. Quality Foils advanced 4.59% to ₹50.80, trading above its 30-day moving average of ₹48.57, though it remains below longer-term averages suggesting short-term recovery with mixed broader trends.
The broader tech sector experienced massive gains as investors showed faith in AI-linked companies and chipmakers. Meta Platforms Inc. rose 5% to $593.71, while Amazon.com climbed over 4% to $247.81 and Alphabet Inc. reached an intraday high of $372.15. Tesla was up 2% to $416 and later pared gains to trade 1.2% higher, with Microsoft Corp. rising over 2% to nearly $400. Apple Inc. traded near day's high of $296.3, up 1.7%. The Nasdaq Composite index soared 2.27% to 26,477.13 as of 10:45 a.m. EST, with the index having zoomed 34.5% in the last 12 months and 14% year-to-date. The S&P 500 surged 1.27% or 100 points to open at 7,531.51, while the Dow Jones Industrial Average added 587 points to rise 1.15% and open at an intraday high of 51,789.64.
The broader software sector is experiencing significant pressure as artificial intelligence disruption mounts, with Salesforce trading near a 52-week low after a 33.8% year-to-date slide. According to Zacks Investment Research, several major software companies have faced sharp pullbacks, with Microsoft declining 16.6%, SAP down 26.3%, and ServiceNow falling 30.2% this year. This suggests that investors are not targeting Salesforce alone but rather the entire software industry is going through a valuation reset as markets reassess growth prospects in an era increasingly shaped by artificial intelligence and economic uncertainty. The rapid rise of agentic AI systems, which can perform tasks with limited human involvement, raises questions about the future of traditional software-as-a-service business models, with investors worrying that reduced employee needs could eventually weaken demand for user-based software subscriptions.
The selected stocks are showing strong upward momentum, trading well above their key short- to medium-term moving averages, which indicates positive trend in the near term. MTAR Technologies declined 3.49% to ₹6,796, slipping below its 30-day moving average of ₹7,041.54, indicating near-term weakness, though it continues trading above longer-term averages suggesting intact medium- and long-term uptrend. Jay Jalaram Technologies fell 3.47% to ₹128.55, trading below its 30-day moving average of ₹133.17 with mixed longer-term trends, while Wise Travel India lost 3.10% to ₹95, trading below all major moving averages across short-, medium-, and long-term timeframes, indicating sustained selling pressure and bearish trend across all timeframes. Market experts suggest that what comes next for stock investors will likely depend on how bond markets react to inflation readings, with the Producer Price Index report due tomorrow showing how higher energy prices are affecting businesses.
