Anthropic Shock: Stock Market in Bear Hug Tracks IT Meltdown

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While Nifty IT is bleeding, financials are cushioning shock in the stock market

By S. JHA

Mumbai, February 13, 2026 — Amid predictions of apocalypse for white collar jobs, IT stocks continue to bleed. Overnight, NASDAQ cracked two percent. FANG stocks went under the hammer. Indian IT scrips in the US bourses also faced bear assaults.

The clear carnage in Nifty IT has brought fear of a major correction in tech stocks. Likes of TCS have lost over 40 percent in their stock prices in recent months. There seems no respite in sight as emerging commentaries speak of an AI-led disruptions.

Market participants have advised against knife catching instincts of investors. Also, long positions in derivatives may come with heartburns, said chartists. Yet, sectoral rotation is gaining strength. While IT stocks bled, financials soared yesterday.

Besides, better employment data in the US sobered hopes for aggressive Fed rate cuts. The Friday inflation data in the US will also be an overhang on the Indian markets.

“As we move forward, we maintain our ‘Buy on dips’ strategy, employing a selective approach and prioritizing robust risk management. Furthermore, it is prudent to refrain from complacent long positions until there is a confirmed restoration of market strength,” said Angel One in a note shared with clients.

The Delhi-based brokerage firm stated that “significant OI accumulation at the 25800 PE strikes suggests a nearby support zone. On the flip side, CE writers seem to position at 26000 strike, indicating potential resistance in near period.”

It also argued that the “market breadth has shifted towards the bear amid the plunge in the IT index, which has negatively impacted investor sentiment.” “From a technical perspective, the benchmark index has displayed signs of caution over the past couple of sessions and with this latest setback, overall market sentiment has further diminished,” added Angel One.

(Disclaimer: This article makes no recommendation for any kind of trades in the stock market.)