The Nifty 50 traded higher on Friday, making it the only major Asian equity index in positive territory as domestic financial and heavyweight stocks offset weakness seen across regional markets.
The NSE Nifty 50 was up 0.68% at 24,235.35, while the Sensex gained 0.74% to 77,758.97. In contrast, Japan's Nikkei 225 fell 4.57%, South Korea's Kospi declined 6.37%, Hong Kong's Hang Seng slipped 1.94%, China's Shanghai Composite lost 1.64% and Australia's S&P/ASX 200 was down 0.69%.
The divergence comes as Asian equities extended losses for a second straight session after another selloff in U.S. semiconductor stocks weighed on investor sentiment across the region.
Financials, Reliance Lead Nifty Higher
Reliance Industries made the biggest contribution to the Nifty's gains, adding 31.97 points to the benchmark index. HDFC Bank contributed 28.66 points, followed by ICICI Bank at 17.78 points, Infosys at 15.15 points and State Bank of India at 9.95 points.
Among the stocks that limited the index's advance, Sun Pharmaceutical Industries was the largest drag, shaving 2.12 points off the Nifty. Wipro reduced the index by 1.63 points, Cipla by 1.54 points, Hindalco Industries by 1.50 points and Dr. Reddy's Laboratories by 1.41 points.
Asian Markets Under Pressure
Asian stock markets traded lower on Friday as renewed selling in global technology stocks weighed on investor sentiment, with Japanese equities leading regional declines after another weak session for semiconductor shares on Wall Street.
The regional weakness followed another selloff in U.S. chipmakers, extending a pullback that has intensified concerns over whether the rapid rise in artificial intelligence-related stocks can be sustained. Asian equities have now declined for a second consecutive session as investors reassess whether record spending on AI infrastructure will generate returns that justify current valuations.
Technology shares remained under pressure after a widely followed U.S. semiconductor index fell more than 4% on Thursday. Alphabet also declined 4.4% after reports suggested Google's flagship artificial intelligence model could face further delays, adding to concerns surrounding the sector.
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