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Sensex and Nifty rise over one percent bucking Asian selloff
Economic Times··18 Jul
India's Nifty 50 rose 261.55 points or 1.1 percent to 24,334.3 and the Sensex gained 964.58 points or 1.25 percent to 78,151.45 on July 18. Banking and IT stocks led gains as Asian markets fell on AI and semiconductor selloffs. Japan dropped 4.03 percent, Taiwan 6.5 percent and China 3.05 percent. Limited AI exposure insulated Indian markets.
Prism
What It Means For You
- Indian equity indices gained while most Asian markets fell sharply on July 18.
- Limited AI stock exposure insulated India from semiconductor selloff pressure.
- Rising Brent crude at $86 affects inflation and import costs for consumers.
What's Happening
- Nifty rose 1.1 percent and Sensex gained 1.25 percent on July 18.
- Asian markets fell on AI-related stock selloffs led by Taiwan and Japan.
- Banking and IT stocks drove Indian market gains on the day.
Adaptive Context
- Brent crude rose from $76 to $86 amid Hormuz conflict tensions.
- Foreign investors were net sellers while domestic institutions bought shares.
- Major bank earnings announcements were scheduled for July 19.
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