Bloodbath in Nasdaq, Kospi and Nikkei but why Nifty is an oasis of peace amid global rout

The Economic Times · Nikhil Agarwal · 2026-11-06 05:08 UTC

A global AI-led tech selloff has battered US and Asian markets, wiping out $3 trillion from S&P 500 companies. However, Indian equities are showing relative resilience as investors rotate away from crowded AI trades. Market experts believe India's lower exposure to the AI boom, attractive large-cap valuations and renewed foreign inflows could help it weather the global rout.

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The selloff followed a 5.6% plunge in the Nasdaq, which recorded its worst day in the last 19 months as $3 trillion was wiped off S&P 500 companies. Investors are increasingly concerned that political resistance to massive data centre investments and doubts over the returns from enormous artificial intelligence spending could slow the AI infrastructure boom.

“The bloodbath in the US markets will impact most other markets today, but India is likely to be the least impacted,” said Dr. V K Vijayakumar, chief investment strategist at Geojit Investments.

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