recap
Market Recap: IT Sector Faces AI-Driven 'SaaSpocalypse' as Nifty Dips; SBI and ICICI Bank Leapfrog TCS in Historic Valuation Shift
On Thursday, Thursday, February 12, 2026, the Indian equity markets witnessed a volatile session as the Nifty 50 fell 0.57% to settle at 25,807.2, ending a four-day rally. The session was dominated by a massive IT sector selloff that erased ‑1.3 lakh crore in market value, even as banking heavyweights like SBI and ICICI Bank reached historic valuation milestones.