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Indian IT Stocks Defy Nvidia Price Hike

Guavy AI Editorial Team
Instruments
NVDA
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Nvidia's plan to increase AI chip prices by 15% has caused a ripple effect in global markets, but surprisingly, Indian IT stocks are seeing a rally. The NiftyIT Index has risen in three of the last four sessions as investors look towards beaten-down Indian software companies as an 'anti-AI' bet.

Hexaware was among the biggest gainers today, with investors seeking refuge from the cooling AI trade. This trend is being driven by a perception that Indian IT stocks are less exposed to the AI-driven growth narrative compared to their global peers.

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