Indian Shares Rise for Second Session as IT Stocks Surge Amid Global AI Selloff

Indian shares advanced for a second straight session on Friday, led by information technology stocks as disappointing tech earnings drove a global rotation out of the artificial intelligence trade. The 30-share BSE Sensex closed up 308.49 points, or 0.42 percent, at 74,459.53, while the NSE Nifty index gained 116.35 points, or 0.51 percent, to 23,053.10. The AI value chain sold off worldwide after Alphabet burned through cash last quarter, Amazon signaled higher capital expenditures next year on top of an already large 2026 outlay, and Intel warned of a faltering PC market. The broader market stayed under pressure on rising crude oil prices and expectations of a Federal Reserve rate hike in December. Binance, the largest crypto exchange, froze digital assets worth around $3 billion while investigating a "potential security issue." The BSE mid-cap and small-cap indexes fell 0.9 percent and 2.1 percent. Market breadth was weak, with 2,937 shares declining, 1,414 advancing and 215 unchanged. Trent jumped 5.2 percent and InterGlobe Aviation rose 4.1 percent on better-than-expected quarterly results, while Power Grid, NTPC and Infosys added 2-3 percent.