Nifty 50 surges, Asia's top performer amid AI selloff
Indian stocks had a standout week, with the Nifty 50 index seeing its biggest jump in over five years, making it Asia's top performer.
The boost came as global investors moved away from AI stocks amid fears of tighter regulation following a Democratic sweep in the US midterm elections and turned to India, whose lower exposure to AI suddenly looked like a smart move.
Foreign inflows lift India's market, rupee
Foreign investors poured over $1.9 billion into Indian shares through Wednesday and a provisional $1.6 billion on Thursday, while big bets against the market dropped sharply.
This fresh cash helped strengthen both the stock market and the rupee, which hit its highest level since April.
With Indian stocks expected to keep rising, even as other markets face uncertainty, India is looking more attractive than ever for global investors.