Indian equity benchmarks Sensex and Nifty rebounded and were trading higher despite opening in the red on Friday, defying a rout in global markets triggered by sharp tech selloff.
Sensex was trading around 566 points higher at 79,876 at 10.30 am on Friday, while Nifty climbed 111.50 points to 24,648. Sensex was down 227 points at the opening while Nifty declined 104 points. In early trade, the 30-share SE Sensex was up 33 points to 79,343.06 and the 50-share NSE Nifty was down 52.95 points to 24,477.40, news agency PTI reported.
This was mostly attributed to a global rout in technology stocks and mounting concerns over slowing investments in artificial intelligence infrastructure. However, sustained foreign fund inflows and relatively moderate crude oil prices aided their rebound, according to PTI
Both indexes posted their biggest single-day gains in seven months on Thursday, buoyed by falling crude oil prices and strong foreign fund inflows. Both had gained for six sessions in a row.
The BSE Sensex rallied nearly 2,009 points and the NSE Nifty surged 576 points on Thursday, even as results of the United States midterm elections handed control of the Congress to the Democratic Party.
In the past six consecutive sessions, the Sensex had surged 6,063.98 points, or 8.27 per cent, while the Nifty had rallied 1,837.75 points, or 8 per cent. On Thursday, the 30-share BSE Sensex opened about 1,300 points up, and zoomed 2,008.61 points, or 2.60 per cent, to settle at 79,310.01, according to news agency PTI.
The 50-share Nifty surged 576 points, or 2.40 per cent on Thursday, to end at 24,536.60. Nifty also saw a three-month high on Thursday amid steady foreign fund inflows and a sharp rally in the US markets, which boosted investor sentiments and buying across sectors.
Asian stocks tumble
{{/usCountry}}The 50-share Nifty surged 576 points, or 2.40 per cent on Thursday, to end at 24,536.60. Nifty also saw a three-month high on Thursday amid steady foreign fund inflows and a sharp rally in the US markets, which boosted investor sentiments and buying across sectors.
Asian stocks tumble
{{/usCountry}}Asian stocks declined after the sharp global tech sell-off on Thursday, with Japan's stock benchmark tumbling more than 6 per cent after trading opened Friday, according to the Associated Press.
However, Tokyo's benchmark Nikkei 225 recovered some of those initial losses, trading 5.7 per cent lower at 57,576.63 by midday. South Korea's Kospi dropped 7.4 per cent to 4,985.99. Hong Kong's Hang Seng fell 0.7 per cent to 24,630.03.
This came after the S&P 500 on Wall Street fell 4.4 per cent Thursday in what turned out to be its worst day since US President Donald Trump's "Liberation Day" tariffs announcement in April 2025. Meanwhile, the Dow Jones Industrial Average sank 1,833 points, or 3.4 per cent, and the Nasdaq composite fell 5.5 per cent.
Wall street's AI rout
US stocks plunged on Thursday as investors dumped AI stocks, even as the midterms brought a bloc of artificial-intelligence skeptics into power, the Wall Street Journal reported.
This led to a stock-market wipeout over fears of more AI scrutiny, particularly on data center construction, according to news agency Reuters. Investor fears that the Democrats' victory could stall AI infrastructure expansion led to a decline of more than 500 points in the Nasdaq Composite.