As Nvidia hits all-time high, can Indians buy shares of chipmaker giant?
On Thursday, it drove up its market value by more than USD 277 billion, a one-day gain record on Wall Street. Thats more than the GDPs of over 150 nations across the world.
NVIDIA Share Price: Microchip giant Nvidia is on a roll. On Friday, it crossed the barrier of USD 2 trillion (USD 2,000 billion). That's precisely more than half of India's total GDP.
On Thursday, it drove up its market value by more than USD 277 billion, a one-day gain record on Wall Street. That's more than the GDPs of over 150 nations across the world. As per NASDAQ's website, the market value of the chipmaker stood at $1.97 trillion after the market closed on Friday. On the same day, the Nvidia stock also hit an all-time high of $823.94.
Those with the stock of the US microchip company have been having a field day for the last few days.
But, sitting in India, can you cash in on the Nvidia rally?
Can you buy the Nvidia stock or just be the fence sitter to witness the NASDAQ spectacle?
The good thing is that you don't need to be in the US to invest in Nvidia.
Here's how Indian investors can purchase Nvidia stock
Indian investors keen to trade US or international stocks need to have an international trading account.
A lot of online platforms, such as Groww and Angel One, provide Indians with the facility of opening an international online trading account.
The procedure is the same as with other trading accounts.
One needs to furnish their bank account particulars along with Know Your Customer (KYC) documents.
Indian investors can also open overseas accounts through brokerage firms that have international partnerships.
Some of the brokerages that maintain international partnerships are HDFC Securities, Axis Securities, Kotak Securities, and ICICI Direct. Another option to get access to Nvidia stock is to open an account with international brokerages such as Interactive Brokers, Charles Schwab, and Ameritrade.
There are some mutual fund houses in India that have maintained holdings through foreign equity investments.
Mutual fund firms such as Axis, ICICI, Mirae, and Motilal Oswal reportedly have foreign equity investments in Nvidia.
(With inputs from Reuters)
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