Anant Raj To Netweb Tech: Tech-Related Stocks Gain As Nasdaq Recovers From DeepSeek Rout
Nvidia Corp. rallied 8.9% after suffering the biggest market-cap loss for a single stock in market history.
Shares of companies from Anant Raj Ltd. to Netweb Technologies India Ltd. and Sagility India Ltd. recovered sharply on Wednesday following overnight gains in the world’s largest technology companies on Wall Street.
Nvidia Corp. rallied 8.9% after suffering the biggest market-cap loss for a single stock in market history. The S&P 500 and the tech-heavy Nasdaq Composite rose 0.92% and 2.03%, respectively. The Dow Jones Industrial Average advanced 0.31%.
In a move reminiscent of a tech underdog stealing the show, DeepSeek—a Chinese AI startup founded by quant fund chief Liang Wenfeng— flipped the global AI narrative earlier this week.
The launch of DeepSeek's Large Language Model could impact Indian companies that focus on data centre business. High valuations and negative market sentiment due to the impact of DeepSeek on India and data centre companies were weighing the stocks the previous day.
The Deepseek-V3 has emerged as the most affordable LLM and has challenged the idea that AI development requires heavy capital.
Its mobile app surged to the top of the iPhone downloads chart in the US after its release in early January.
Anant Raj
The stock of Anant Raj was down almost 20% on Tuesday after falling 18% on Monday. However, the shares rose as much as 10% during the day to an upper circuit of Rs 587.9 apiece on the NSE.
It has risen 83% during the last 12 months. The total traded volume so far in the day stood at 7.1 times its 30-day average. The relative strength index was at 28.
Netweb Tech
The stock of Netweb Tech was down 10% on Tuesday after falling 12% on Monday. The shares rose as much as 10% during the day to a lower circuit of Rs 1,607.6 apiece on the NSE.
It has risen 10.8% during the last 12 months. The total traded volume so far in the day stood at 5.9 times its 30-day average. The relative strength index was at 27.
Sagility
The stock of Sagility was down 5% on Tuesday and Monday. The shares rose as much as 5% to an upper circuit of Rs 1,607.6 apiece on the NSE.
It has risen 55% during the last 12 months. The total traded volume so far in the day stood at 0.3 times its 30-day average. The relative strength index was at 47.
