Indian IT Sector Loses Rs 5.7 Lakh Crore

In eight trading sessions through last week, India’s IT sector lost about Rs 5.7 lakh crore and the Nifty IT index fell 19%, with bellwethers Infosys and Wipro hitting multi-year lows. The selloff followed Anthropic’s launch of a corporate legal automation tool, prompting JP Morgan to call deep-value buying opportunities in Infosys and TCS, citing high dividend yields.