New Delhi, March 5 -- Shares of heavyweight chipmaker Broadcom jumped 6% in Thursday's trade, reaching the day's high of $336.12 per share, even as key Wall Street averages were trading with losses.

The rally in the stock on 5 March was triggered by the company's strong set of results for its fiscal first quarter and a robust forecast for the current period. The results lifted sentiment toward the chipmaker, which had remained under pressure this year so far due to valuation concerns.

Post the US stock market close on Wednesday, the company announced its financial results.

Broadcom, which supplies semiconductors and infrastructure software, posted sales of $19.3 billion during the fiscal first quarter, which ended on 1 February. Its ne...