Indian markets rally despite 5.54% retail inflation in September
Business
On Tuesday, Indian markets had a strong day: Nifty rose 170.45 points to 22,533.80 and Sensex climbed 557.62 points to 72,482.30, mostly thanks to big gains in IT giants like TCS and HCL Technologies (TCS up 4.16% and HCL Technologies up 3.81%).
This upbeat mood came even though retail inflation hit 5.54% in September.
KOSPI plunges 6.5% on semiconductor selloff
While India's markets held firm, South Korea's KOSPI index dropped sharply by 6.5% after heavy selling in semiconductor stocks: Samsung Electronics fell 7.5% and SK Hynix slid by 9%.
Global worries like rising oil prices and geopolitical tensions weighed on Asian markets, but Indian investors kept buying at home with mutual fund inflows hitting a record ₹38,307 crore last month.