GIFT Nifty tumbles over 150 points as global sell-off in AI stocks rattles sentiment

The GIFT Nifty has experienced a significant decline, falling over 150 points as a result of a global sell-off in AI and semiconductor stocks across Asia. This downturn has contributed to a weak start for Indian markets, with profit booking and weak tech sentiment playing a role in the decline. Despite this, analysts maintain a positive near-term outlook for the Nifty, provided it remains above key support levels. The global sell-off in AI stocks has had a ripple effect on markets, leading to a cautious approach among investors. The mixed cues from Wall Street have also added to the uncertainty, making it challenging for markets to gain momentum. However, the overall outlook for the Nifty remains positive, with analysts expecting it to bounce back once the current volatility subsides. The decline in AI and semiconductor stocks has been a major contributor to the sell-off, with investors booking profits and adopting a wait-and-watch approach. As the markets continue to navigate through this challenging period, investors will be closely watching the key support levels for the Nifty, hoping for a rebound in the near term.