PRE MARKET--> AI STOCKS CRASH / FIIS SELLING / AND METALS...

Global AI Stocks Crash, Asian Markets Tumble — Can Indian Markets Benefit? Market Outlook: Cautious | Weak Opening Likely | Stock-Specific Opportunities Global technology and AI stocks are facing heavy selling pressure after hotter-than-expected US inflation raised concerns about further Federal Reserve rate hikes. Asian markets have also tumbled, putting pressure on global risk appetite. 1. GLOBAL AI SELLOFF: A POTENTIAL RELATIVE OPPORTUNITY FOR INDIA? Global technology shares are under pressure as investors reassess AI valuations, chipmaker competition and the returns expected from massive AI investments. The Nasdaq Composite fell around 1.9% overnight. South Korea's Kospi and Japan's Nikkei came under heavy selling pressure. Semiconductor stocks, including Nvidia, AMD, Broadcom and Micron, declined. --->Indian stocks and sectors to monitor: IT services:

, Infosys, HCLTech and Wipro --->2. FII–DII DATA: FOREIGN SELLING REMAINS A CONCERN Institutional flows from Wednesday, 14 October, show continued pressure from foreign investors. Institutional activity Net flow FII cash market −₹1,857.44 crore DII cash marret +₹2,670.44 crore FII index futures −₹1,101.00 crore FII index options −₹8,627.09 crore FII stock futures −₹2,075.39 crore FII stock options −₹749.58 crore ---> NIFTY 50: 22,580 SUPPORT, 22,730 RESISTANCE Previous close: 22,622.70 Key levels for today's session Immediate resistance: 22,730 Immediate support: 22,580 --->IDBI BANK IN FOCUS: FAIRFAX DEAL IDBI Bank is likely to attract attention after the government selected a Fairfax Financial subsidiary as the strategic buyer for a 60.72% stake. Key deal details Stake: 60.72% Deal value: Approximately ₹52,878 crore Bid price: ₹81 per share Buyer: Fairfax Financial Holdings subsidiary --->BOTTOM LINE For today's session, watch 22,580 on the downside and 22,730 on the upside. IDBI Bank is a key stock-specific trigger following the Fairfax deal