Technology|Finance — Rotation from AI trade lifts Indian IT stocks for best month vs global chipmakers

Indian software stocks are poised for their strongest monthly outperformance against global chipmakers, as investors rotate out of the artificial intelligence trade and into beaten-down IT names. The Nifty IT index has surged 16% in July, while the MSCI global semiconductor index has fallen 13%. The divergence suggests renewed interest in Indian IT services firms, which have largely been insulated from the recent AI-related volatility affecting chip stocks.