Indian stocks set to pause rally after global selloff hits tech shares

Indian shares are expected to break a six-session winning streak on Friday, as a global market rout triggered caution among investors assessing the impact of the US Democratic win on AI regulations and foreign policy. The Nifty 50 and BSE Sensex had gained for six consecutive sessions, culminating in their best day in seven months on Thursday, aided by lower oil prices and foreign fund inflows of about $1.6 billion, the largest single-day net purchase in nearly six years. GIFT Nifty futures indicated a weaker start, though analysts noted the decline was contained compared with the severe global selloff. Overnight, US technology stocks plunged, with the Nasdaq sinking 5.5% and the Dow and S&P 500 falling 3.4% and 4.4%, respectively, after weak Qualcomm results and concerns over slowing AI infrastructure spending. Asian markets followed lower, with South Korea's Kospi down 8% and Japan's Nikkei falling 5%.