IT stocks power Dalal Street rally as global AI trade loses steam
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.
