New York Report: Nasdaq lifted by Apple sales

THE NASDAQ rose modestly in a choppy session yesterday, lifted by a rally in Apple shares a day after the iPad maker’s strong results, though tensions in Ukraine held the broader market in check.

Shares of Apple, the most valuable US company by market capitalisation, jumped 8.2 per cent to $567.77, the biggest gain since August, a day after the company posted revenue that far outpaced expectations.

Apple also approved another $30bn stock-buyback plan, raised its dividend and authorised a seven-for-one stock split.

The S&P information technology index rose 1.1 per cent and was the best-performing sector of the day.

The Dow Jones industrial average remained unchanged to close at 16,501.65. The S&P 500 gained 3.22 points or 0.17 per cent, to 1,878.61.

The Nasdaq Composite added 21.372 points or 0.52 per cent, to end at 4,148.338.