Sensex Nifty Market Rally : The Indian stock market delivered a spectacular rally to investors on the occasion of Dhanteras. On Friday, the Sensex surged more than 1,700 points to cross the 81,000 mark, while the Nifty also moved above 25,000. Notably, the Indian market recorded gains for the seventh consecutive trading session. In contrast, heavy selling was witnessed in stock markets across the United States, Japan and South Korea. Growing concerns over artificial intelligence (AI) in global markets added to investors' worries.

Sensex Crosses The 81,000 Mark
On the final trading day of the week, the Sensex closed at 81,026, gaining 1,718 points. The Nifty also rose by 493 points to finish above 25,030. Strong buying was seen in banking stocks as well. The Bank Nifty climbed more than 1,300 points to close at 59,086. Seven consecutive sessions of gains helped the Indian market stand out amid the global market downturn.

Heavy Selling In US And Japanese Markets
In contrast to the rally in India, US stock markets witnessed a sharp decline. The Nasdaq fell by nearly 6%, with reports estimating that investors' wealth declined by approximately $3 trillion. Japan's stock market also dropped by more than 6%, with its key index falling over 3,600 points. South Korea's KOSPI plunged by around 8.5%. Due to the sharp decline, trading there had to be halted for approximately 20 minutes.

Investor Concerns Grow Over Artificial Intelligence
Uncertainty surrounding the artificial intelligence sector is being cited as a major reason behind the global market decline. Following the Democratic Party's victory in the US midterm elections, investors fear that new restrictions or stricter regulations could be imposed on AI companies. This has raised concerns about the impact on technology companies' investments and future earnings. China's stock market also recorded a decline of around 1.20%.

Investors Lose Money Despite Sensex Rally
Despite gains in the major market indices, not all investors benefited from the rally. The BSE's total market capitalisation declined from approximately Rs 501 lakh crore to Rs 500 lakh crore. This means the overall market value fell by around Rs 1 lakh crore. Of the 30 stocks in the Sensex, 21 closed higher, while nine ended in the red.

Midcap And Smallcap Stocks Remain Under Pressure
Despite buying in shares of large companies on Friday, the midcap and smallcap segments remained weak. The BSE Smallcap Index fell by 1.37%, while the Midcap Index declined by around 1%. Mahindra & Mahindra shares gained nearly 5%, while ICICI Bank rose around 4% and Titan advanced approximately 3%. On the other hand, some defence and technology stocks remained under pressure, while IT shares witnessed healthy buying.