IT stocks power Dalal Street rally as global AI trade loses steam
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian equities posted a strong rebound on Thursday, led by a sharp recovery in IT stocks.
- ✓The BSE Sensex rose 1,533.72 points to close at 74,315.61.
- ✓Investors got back into local shares as global AI trades lost steam.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Synopsis
The rally came even as concerns over sticky US inflation and the prospect of further monetary tightening weighed on global markets, triggering a sell-off in technology stocks across Asia, particularly in South Korea and Taiwan.
Mumbai: Indian equities posted a strong rebound on Thursday, led by a sharp recovery in IT stocks amid the unwinding of AI-related trades across global markets.
The BSE Sensex rose 1,533.72 points, or 2.11%, to close at 74,315.61, while the NSE Nifty50 gained 374.65 points, or 1.66%, to settle at 22,997.35.
The rally came even as concerns over sticky US inflation and the prospect of further monetary tightening weighed on global markets, triggering a sell-off in technology stocks across Asia, particularly in South Korea and Taiwan.
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The Economic Times
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