Battered IT loses weight on Nifty, banking hits new high

Information Technology stocks are losing their grip on the Nifty index. Banks are now more influential, their share in the key index reaching new highs. This shift reflects changing earnings trajectories and investor sentiment. Overseas investors have significantly reduced their exposure to Indian IT. The impact of Artificial Intelligence disruption is a key concern for the sector.

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FPIs withdraw Rs 48,056 cr from D-St in Oct

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