Indian stocks closed higher Friday, with the NSE Nifty 50 Index up 0.5% and its best monthly performance since July, as local shares provided a haven from the global tech selloff. The Nifty rose 2% for October, ranking among Asia’s top performers, while regional benchmarks fell about 6%. India’s limited exposure to technology hardware and semiconductor stocks insulated it from the downturn, and overseas investors returned with net purchases exceeding $1.2 billion.
However, high oil prices around $117 a barrel and geopolitical concerns temper optimism. Small‑cap and mid‑cap indices fell sharply, yet India led the world in IPO activity, raising ₹455 billion ($4.8 billion) in October, highlighted by the blockbuster Jio Platforms listing. Key gainers included Trent Ltd., IndiGo, Tata Consultancy Services and Infosys, though the Nifty remains down 12% year‑to‑date versus strong gains in Taiwan and South Korea.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing