Indian IT stocks rise as investors shift from Korean chipmakers
Indian IT stocks rose 4% on 13 July as investors shifted funds from South Korean semiconductor firms, which faced significant declines. SK Hynix and Samsung Electronics fell 15% and 11%, respectively, prompting a $1.1 billion sell-off in South Korea.
after close1 source ↓written by the desknot a recommendation
- with the Nifty
- 13 Jul
- IT index climbing
- 4%
- saw declines
- 15%
- 11%
- in South Korean
- $1.1 billion
Indian information technology shares surged on 13 Jul with the Nifty IT index climbing 4%. This rally follows a sell-off in South Korea's semiconductor sector, where SK Hynix and Samsung Electronics saw declines of 15% and 11%, respectively. Foreign institutional investors sold $1.1 billion in South Korean shares, reallocating capital to Indian assets.
Not investment advice. For informational purposes only.