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Nifty Struggles Below 25,000 Amid Global Tech Weakness and AI Rally Concerns
Nifty Struggles Below 25,000 Amid Global Tech Weakness and AI Rally Concerns
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Indian equities showed muted movement as the Nifty 50 hovered NEAR 24,972, failing to breach the psychological 25,000 barrier. The Sensex remained flat at 81,645, reflecting caution ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech.
US tech sell-offs spilled into global markets, with the Nasdaq dropping 1.4% as AI-driven euphoria waned. "Valuations are being questioned after the sector's relentless rally," observed analysts, noting the pressure on megacap tech stocks.
While maintaining above long-term averages, the Nifty faces stiff resistance at 25,000. "This level remains a formidable ceiling despite four consecutive winning sessions," remarked Hariprasad K of Livelong Wealth.
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