Why India’s Nifty 50 Is Holding Steady Despite Asian Market Selloff

India’s Nifty 50 stood at 23,850.35 on Wednesday, up 0.17% from Tuesday’s close, even as Japan’s Nikkei 225 fell 4.05%, South Korea’s KOSPI 3.29% and Taiwan’s TAIEX 3.11% after early U.S. midterm results raised fears of tougher scrutiny of artificial intelligence. Consumer and financial stocks led gains; the Nifty has relatively little exposure to AI hardware. It had risen 1.58% to 23,810.85 on Tuesday, a fourth consecutive gain, after Finance Minister Nirmala Sitharaman said she would consider investor concerns about capital gains taxes—12.5% on long-term shares and 20% on short-term holdings. Global funds bought a net $2 billion of Indian stocks in the last two weeks of October, reversing earlier outflows toward AI-driven markets in Korea and Taiwan.