Business · India Bureau
Indian markets poised for subdued open as Asian equities slide on chip rout
GIFT Nifty indicated a muted start for Indian benchmark indices Wednesday as regional markets tumbled on a broad technology sector selloff. South Korea's Kospi led declines with a sharp 7 per cent drop.
LSN India ·
Indian equity indices appeared set for a cautious opening Wednesday, with GIFT Nifty futures pointing to a tepid start for the Nifty50 benchmark as regional sentiment weakened amid a significant technology stock sell-off across Asia. The weakness in Asian markets reflected investor concerns about the semiconductor sector, which has witnessed considerable volatility in recent sessions. South Korea's Kospi index bore the brunt of the selloff, declining 7 per cent as semiconductor-linked shares faced heavy selling pressure. The rout in technology stocks has raised concerns among global investors about growth prospects in the sector. The anticipated subdued opening in India would add to the caution prevailing in Asian markets as investors reassess their positions ahead of further economic data releases. Analysts noted that the weakness in technology stocks could weigh on the broader market sentiment in the coming sessions, with investors closely monitoring developments in the semiconductor industry for signs of stabilisation.