Indian share benchmarks jump as global AI slump, rally in telecom stocks aid sentiment

** India's Nifty 50 .NSEI and Sensex .BSESN jump 1.7% and 1.9%, respectively

** Correction in global AI-linked markets and gains in telecom stocks after Jio Platforms' IPO announcement boost sentiment

** Asia stocks .MISX00000PUS slide 3.5%; South Korea's KOSPI .KS11 and Japan's Nikkei 225 .N225 slump 8% and 5.4% MKTS/GLOB

** Tech stocks led selling in Asian markets as crowded bets on data centres and other AI infrastructure faced a reckoning from high and rising interest rates

** Thirteen of the 16 major sectors gain; broader small-caps .NIFSMCP100 fall 1.1%, while mid-caps are .NIFMDCP100 flat

** Reliance Industries RELI.NS and Bharti Airtel BRTI.NS rise 3% and 3.9%, respectively, on Jio IPO announcement

** HDFC Bank HDBK.NS and ICICI Bank ICBK.NS jump 2% and 3.3%, respectively, ahead of earnings this weekend

** Fading global AI rally also pulls optical fibre makers Sterlite Tech STTE.NS and HFCL HFCL.NS down 5% each