Sensex Dips 200 Points, Nifty Below 25,750 Amidst IT Selloff Fears

• Indian benchmark indices, Sensex and Nifty, experienced a decline on February 4, with Sensex falling 200 points from its day's high and Nifty dropping below the 25,750-mark.
• The primary reason for the market downturn was a significant selloff in the IT sector, driven by investor concerns over AI's impact on traditional business models.
• Shares of major IT companies like Infosys, Tata Consultancy Services, Wipro, and HCLTech saw declines of up to 7%, with Infosys leading the fall.
• Anthropic PBC's launch of AI tools for automating legal, sales, marketing, and data analysis tasks in the US triggered a global selloff in software and data analytics stocks, impacting India's $283-billion IT sector.
• Other factors influencing the market included investors awaiting clarity on the US-India trade deal and the outcome of the RBI's Monetary Policy Committee (MPC) meeting.