AI sell-off was a positioning reset, fundamentals remain strong, says Raymond James strategist
CNBC-TV18 1 hr ago·28 Oct 2026, 3:59 am
Global markets recently experienced a sharp correction in technology and growth stocks, often referred to as an 'AI sell-off.' This decline was largely driven by investors rebalancing their portfolios, rather than a fundamental deterioration in the underlying businesses. Raymond James strategist Matt Orton suggests this was a necessary 'positioning reset,' where investors took profits to reduce risk before the next leg of the rally.
For Reliance Industries, this volatility is viewed through a different lens. The strategist highlights that while the broader tech sector faces a valuation correction, Reliance is trading at a significant discount compared to global peers. This disconnect suggests the stock may offer a safer entry point for investors seeking exposure to India's largest conglomerate, which benefits from a diversified mix of energy, retail, and digital assets.
Investors should watch for signs of stability in global tech sentiment and Reliance's quarterly earnings. If the broader market stabilizes, the valuation gap between Reliance and its global counterparts could narrow, potentially driving the stock higher as investors rotate back into quality, high-conviction names.
Affected stocks
Neutral2 stocks
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Reliance Industries (RELIANCE).
- Category: Economy.
- Flagged as a high-impact, market-moving story.
- Also mentions JPL.
Why it matters
This is a high-impact development for Reliance Industries and could move the stock. Use the price and stock snapshot to gauge how the market is responding.
