India moves to 6th spot globally after South Korea slump
Business
India just moved up to the sixth spot worldwide for market value, overtaking South Korea.
This happened because South Korea's market cap took a sharp hit, dropping nearly 10% in a week to $4.5 trillion, while India held steady at $4.84 trillion.
AI sell-off slams Samsung, SK Hynix
South Korea's fall was mostly due to big losses at chip giants Samsung Electronics and SK Hynix, whose stocks slid 18% and 19% after a global sell-off in AI-related shares.
In comparison, Indian IT stocks dipped too but handled the turbulence better, with the BSE IT index dropping 7.5%, while main indices like Sensex and Nifty barely budged by about 1%.