Global Market Meltdown: Wall Street Bleeds Red as Indian Stocks Hold GroundA severe sell-off triggered by concerns over artificial intelligence infrastructure spending and regulatory fears following the United States midterm elections wiped out trillions of dollars across global stock markets. Key Asian indices, including Taiwan's TAIEX, South Korea's KOSPI, and Japan's Nikkei, plunged sharply alongside heavy losses on Wall Street led by chipmakers such as NVIDIA and AMD.
However, Indian markets demonstrated resilience, with both the Nifty and Sensex holding firm. Dalal Street emerged as a relative safe haven owing to its limited exposure to the global AI hardware boom and the economic relief provided by falling crude oil prices.
Foreign institutional investors extended their buying streak to five consecutive sessions, purchasing nearly 15,000 crore rupees worth of Indian shares on Thursday, marking their largest single-day purchase in over a year. As international fund managers re-evaluate tech portfolios, India's domestic consumption, banking sector, and robust corporate earnings continue to attract substantial foreign capital inflows.