Top Stories: Carnage on D-Street, Anthropic milestone, Bangladesh election result, PMO Shift & more

Markets closed the week on a weak note, weighed down by a sharp sell-off in information technology stocks that wiped out nearly ₹3 lakh crore from the IT index and pulled benchmark indices lower. The Sensex and Nifty slipped about 1% over the week, while the Nifty IT index logged its steepest fall in a year.

Even as volatility gripped the sector, industry experts indicated the AI-led correction may be overdone, sparking a wider debate on how disruptive artificial intelligence could be for Indian IT services firms — a theme Vishal Sikka addressed, even as Microsoft’s AI chief cautioned that automation risks for white-collar roles may accelerate.

Globally, artificial intelligence major Anthropic surged to a $380 billion valuation, sharpening competition with OpenAI and other technology heavyweights. Corporate developments remained in focus, with Siemens outlining plans for bolt-on acquisitions to scale its software and digital capabilities.

Back home, the government conducted a ₹75,505 crore G-sec switch auction with the Reserve Bank of India, while the central bank proposed tighter exposure norms for banks lending to REITs. Political and policy shifts — from Bangladesh’s election fallout to changes in US climate regulation under Donald Trump — also shaped the week’s headlines.

IT carnage wipes out ₹3 lakh cr from index; Sensex, Nifty slide as global jitters deepen - Key factors



Indian equities ended the week deep in the red, pressured by an intense sell-off in information technology stocks that wiped out nearly ₹3 lakh crore in market capitalisation from the index. The Sensex and the Nifty each declined about 1% for the week, while the Nifty IT index tumbled 8%—its steepest weekly fall in a year. Five of the six biggest Nifty losers were IT majors, including Infosys, TCS, HCLTech, Wipro and Tech Mahindra.

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Also Read:AI-led IT selloff may be overdone, not the time to exit, says Edelweiss AMC CIO

Anthropic hits a $380 Billion valuation as it heightens competition with OpenAI



Artificial intelligence company Anthropic says it is now valued at $380 billion, cementing its position alongside rival OpenAI and Elon Musk’s SpaceX in a trio of the world’s most valuable startups that investors will be watching closely this year to see if they will become publicly traded on Wall Street.

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How serious is AI risk to Indian IT services companies? Vishal Sikka explains



Artificial intelligence (AI) could begin to affect Indian IT services companies by changing how certain types of enterprise work are delivered, especially tasks that are repetitive and prescriptive in nature, according to Vishal Sikka, Founder and CEO of Vianai and former CEO of Infosys.

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Also Read: Microsoft AI chief warns most white-collar jobs could be automated within 18 months

Siemens eyes 'bolt-on' acquisitions in 2026 to scale software and digital twin tech, says CEO



In an exclusive interview with CNBC-TV18, Siemens CEO Roland Busch highlighted the company’s strong momentum at the start of fiscal 2025, underpinned by a massive 117 billion euros order book and robust 10% order growth.

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Government buys ₹75,505 cr G-sec from RBI in switch auction



The Government of India on Thursday, February 12, bought back government securities (G-secs) worth ₹75,504.43 crore from the Reserve Bank of India (RBI) through a switch auction, while issuing bonds worth ₹69,436.15 crore.

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Also Read: RBI proposes 10% exposure limit for banks lending to REITs

Bangladesh election 2026 results: Sheikh Hasina calls vote unconstitutional, Yunus welcomes transition



BNP wins Bangladesh's first post-uprising election, with Tarique Rahman pledging reform. Sheikh Hasina rejects the result from New Delhi. Muhammad Yunus and international leaders welcome the outcome.

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Government needs to implement New Public Sector Enterprise Policy without delay: Par panel



A parliamentary panel on Thursday emphasised the need for the implementation of the new Public Sector Enterprise (PSE) Policy without delay for achieving the intended objectives of fiscal prudence.

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PM Modi shifts PMO for first time since Independence to Seva Teerth complex | In pics



Prime Minister Narendra Modi, on Friday, inaugurated Seva Teerth, a new integrated complex that will house the Prime Minister’s Office, marking its first relocation since Independence. The government said the move shifts India’s most powerful address to a modern facility designed to consolidate executive functions and improve efficiency.

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DP World CEO steps down after Jeffrey Epstein emails surface, investors pause deals



Sultan Ahmed bin Sulayem has stepped down as chair and chief executive of DP World after emails between him and convicted sex offender Jeffrey Epstein were made public by the US Department of Justice, triggering investor unease and prompting a swift leadership overhaul at the Dubai-based logistics group.

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Also Read:Epstein files fallout: Goldman Sachs’s Kathryn Ruemmler quits after revelation of 'extensive association'

Trump revokes basis of US climate regulation, ends vehicle emission standards



The administration of President Donald Trump on Thursday announced the repeal of a scientific finding that greenhouse gas emissions endanger human health and eliminated federal tailpipe emissions standards for cars and trucks.

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