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

GIFT Nifty dropped over 150 points signalling a weak opening for Indian markets, tracking a sharp sell-off in AI-linked stocks across Asia. Japan's Nikkei fell 4.5% and South Korea's Kospi dropped as much as 6.8%, with Samsung Electronics down 7%, SK Hynix losing 6.6%, and SoftBank plunging over 13% as investors booked profits after a strong rally in AI stocks. Despite the negative global cues, technical analysts note Nifty's short-term trend remains positive as long as it holds above 23,800, with 24,500 seen as the immediate upside target.