Indian Stocks Resist Global Selloff as IT Rally Offsets Losses

Indian stock indices Nifty and Sensex traded largely flat on Friday, resisting a global selloff that erased over $2 trillion from Wall Street, driven by concerns over AI investments. IT stocks rallied on hopes of increased foreign inflows. The resilience came as foreign portfolio investors bought Rs 13,801.83 crore in stocks on Thursday, with analysts suggesting India could benefit from a slowdown in AI-related spending. M&M and Titan led Nifty gainers after strong Q2 results, while IT majors like TCS, Infosys, and HCL Technologies rose 1.5-1.85 percent. The global rout followed Democratic gains in US midterm elections, raising fears of a moratorium on AI data centres. South Korea's Kospi triggered a circuit breaker, and Japan's Nikkei fell 5.7 percent. Analysts noted a federal moratorium is unlikely, though state-level pauses remain possible.