11:11 | US, China may extend tariff truce, AI jitters hit Nifty IT, and more

Good morning, readers.

Markets, geopolitics, and tech headlines are all on the move today.

AI concerns are rattling Indian markets this morning, dragging the Nifty IT index down over 4%. Keep an eye on IT shares like TCS, Infosys, and Wipro as they continue to slide. Insurance and paint stocks are also sectors market watchers should watch closely.

There's a lot more to watch on the tech and AI front globally, and in India in particular, with former UK PM Rishi Sunak and French President Emmanuel Macron

set to take part in the India AI Summit.

US, China may extend tariff truce for a year

US President Donald Trump and his Chinese counterpart Xi Jinping may agree to extend the current tariff truce, in effect since November 2025, by another year. The two are speculated to meet at the Beijing Summit in early April 2026.

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TCS, Infosys, Wipro shares slide as AI fears drag Nifty IT down over 4%

The Nifty IT index dipped over 4% early on February 12, gripped by a fresh wave of anxiety that artificial intelligence could disrupt traditional software and IT services businesses.

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Ukrainian capital Kyiv under 'massive' attack from Russian missiles, officials say

The Ukrainian capital Kyiv came under a "massive" attack from Russian missiles early on Thursday, with various buildings hit in the assault, officials said. "A mass attack on the capital is still underway," Mayor Vitali Klitschko said on Telegram.

Bangladesh elections 2026 begin amid tight security and political transition

Voting for Bangladesh’s 13th parliamentary elections began on the morning of Thursday, February 12, marking the country’s first general election since the ouster of former prime minister Sheikh Hasina following mass protests in August 2024.

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North Korea's Kim positioning daughter as successor, Seoul spy agency briefing says

North Korean leader Kim Jong Un appears to be taking steps to consolidate his daughter's position as successor, and there are signs she is providing input on policy matters, South Korean lawmakers said on Thursday, February 12, citing a spy agency briefing.

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Lenskart shares gain 11% post strong Q3 results; Jefferies raises target price

Shares of Lenskart Solutions Ltd. gained 11% on Thursday, February 12, after the company reported a strong performance in the third quarter, resulting in brokerage firm Jefferies increasing its price target by around 11%.

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Why the rupee strengthened despite weak equities today

The Indian rupee rose 38 paise to 90.40 per US dollar, driven by foreign portfolio inflows, RBI liquidity, and calm global cues, despite risks from Brent crude, geopolitics, and US–India trade.

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Paint stocks mixed as analyst says multi-year de-rating underway for sector

Paint stocks Asian Paints, Berger Paints and Kansai Nerolac were trading mixed on Thursday, February 12, as brokerage firm Morgan Stanley said a multi-year de-rating is underway for the sector.

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Insurance shares slip a day after RBI proposes tighter rules on financial product sales

Shares of major listed life and general insurance companies opened in the red on Thursday (February 12), a day after the Reserve Bank of India (RBI) released draft guidelines on the advertising, marketing and sale of financial products by regulated entities.

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Rishi Sunak, former UK PM, to address India AI Impact Summit 2026

The India AI Impact Summit 2026, scheduled to take place from February 16 to 20 in New Delhi, is set to witness the participation of prominent global leaders, including former UK Prime Minister Rishi Sunak and French President Emmanuel Macron.

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Elon Musk restructures xAI’s teams after co-founders leave AI company

Elon Musk said he restructured xAI, his artificial intelligence startup, following the exit of two of its co-founders earlier this week. XAI will be organised in four core areas, the billionaire told staff in a meeting on Wednesday: Grok’s chatbot and voice product; Coding; the Imagine video product; and Macrohard, an AI software company run by digital agents.

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