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Michael Burry’s latest bearish bets on artificial intelligence (AI) stocks have sent tremors through global technology markets, and the ripples have reached Dalal Street.
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After a brief pause in October, foreign portfolio investors have resumed selling, pulling out a net Rs 12,569 crore from Indian equities so far in November amid weak global cues and risk-off sentiment.
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Indian benchmark indices Nifty and the BSE Sensex ended with weekly declines of 0.9%, amid selling pressure in IT and consumer stocks.
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Despite a weak start, the markets staged a remarkable recovery on Friday to end on a flat note. The Nifty saw a weak opening; it opened lower and drifted further to form the low point of the day in the first hour of the session.
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The sudden slump in Asia’s technology shares last week has jolted investors, serving as a stark reminder that the world-beating rally in artificial intelligence and semiconductor stocks may be nearing a short-term crest.
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The coming week will see a flurry of IPO activity with five public issues—PhysicsWallah, Emmvee Photovoltaic Power, and Tenneco Clean Air India among them—looking to raise over Rs 10,000 crore across sectors like edtech, clean energy, automotive, and pharma, testing investor appetite and liquidity.
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Despite a flat market, selective traction is building in banking stocks as sector rotation picks up pace. Deven Choksey of DRChoksey FinServ expects stronger earnings in H2FY26, led by improved cost controls, SME loan growth, and government-led consolidation tailwinds in public sector banks.
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Eyewear retailer Lenskart Solutions will make its much-awaited stock market debut on Monday, but investor euphoria has cooled sharply.
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