Indian Shares Edge Higher As AI Disruption Worries Ease
(RTTNews) - Indian shares followed global peers higher on Wednesday as AI disruption worries eased and investors looked ahead to Nvidia's earnings report later in the day for fresh signals on the durability of artificial intelligence demand.
Meanwhile, U.S. President Donald Trump, in his State of the Union address, said that the tariffs paid by foreign countries will replace the modern-day system of income tax.
"As time goes by, I believe that tariffs, paid for by foreign countries, will, like in the past, substantially replace the modern-day system of income tax, taking a great financial burden off the people that I love," Trump said.
The benchmark BSE Sensex surged 495 points, or 0.6 percent, to 82,720 in early trade while the broader NSE Nifty index was up 145 points, or 0.6 percent, at 25,569.
IT stocks such as Infosys, TCS, HCL Technologies, Wipro and Tech Mahindra all rose around 2 percent after AI startup Anthropic PBC emphasized partnerships with companies, adding its Claude chatbot technology will integrate with, rather than displace, existing businesses.
HG Infra Engineering rallied 3 percent after it emerged as the L-1 bidder for a major NHAI project valued at Rs 1,582 crore.
IRFC slumped nearly 4 percent on reports the government plans to divest up to 4 percent stake in the company via an offer for sale.
Power Grid Corporation of India advanced 1.4 percent after successfully commissioning a new transmission system project in Rajasthan.
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