S. technology shares filtered through to the region. 5%, with the decline led by domestic IT stocks that track the performance of global chipmakers. Traders cited the looming earnings report from Nvidia as a catalyst for heightened caution, fearing that weaker demand for semiconductors could reverberate across the technology chain.
At the same time, gold prices extended their rally for a fifth consecutive session, climbing above $2,100 an ounce. The metal’s safe‑haven appeal has drawn Indian investors seeking shelter from equity volatility, and the surge is likely to boost domestic gold demand and potentially lift the price of physical gold and sovereign gold bonds. For portfolio managers, the move underscores the benefit of maintaining a modest allocation to precious metals during periods of market stress. Investors are also eyeing Federal Reserve Chair Kevin Warsh’s upcoming speech, which could hint at the central bank’s stance on interest rates amid lingering inflation concerns.
A dovish tone may support risk assets, while a hawkish outlook could intensify the outflow from tech‑heavy stocks. Coupled with Nvidia’s earnings, the speech could set the direction for the next trading week. For the average Indian saver, the key takeaway is to stay diversified, keep an eye on global tech earnings, and consider a measured exposure to gold as a buffer against short‑term equity swings.