The week that went by was shaped by an array of developments that impacted the news cycle. This includes the details that emerged related to the India-US trade deal, the sell-off in IT stocks, the parliamentary elections in Bangladesh, and the contests and controversies of ICC T20 World Cup.
Here's a recap of the week that was.
IT Stocks Selloff
IT stocks continued to face a selloff, as markets have turned jittery over Anthropic's 'Claude Cowork'. The AI tool seems to be making investors think that the 'software as service model' may soon be irrelevant.
The Nifty IT index, representing 10 largest companies fell 5.2% intraday on Feb. 13, logging a third consecutive session of declines. The index has fallen 32% from its record high, logging the index's biggest decline since the 2008 Lehman crisis, according to the data compiled NDTV Profit.
ALSO READ: Infosys, TCS, Wipro — IT Stocks Extend Decline To Third Day, Following Global Selloff
ICC Men's T20 World Cup
The ICC Men's T20 World Cup, co-hosted by the Board of Control for Cricket in India and Sri Lanka Cricket governing boards, drew attention for the nail-biting thriller between Afghanistan and South Africa, with the latter winning only after a double-super over. Also in news was Zimbabwe pulling a major upset against Australia, and Pakistan reversing its decision to boycott the game against India.
ALSO READ: India vs Pakistan, T20 World Cup 2026: Six Players Who Could Shape The Colombo Showdown
Bangladesh Elections
Tarique Rehman's Bangladesh Nationalist Party clinched the victory in Bangladesh's general elections with a notable majority. The BNP alliance secured 212 out of the 299 parliamentary seats, compared to 77 seats that the Jamaat-e-Islami-led alliance secured. The election marks a watershed moment in Bangladesh's politics following the mass uprising that ended Sheikh Hasina's 15-year tenure. Her Awami League was barred from contesting after its registration was cancelled, reshaping the political landscape into a direct contest between the BNP and a resurgent Jamaat-led 11-party coalition
ALSO READ: PM Modi Among World Leaders Invited By Bangladesh For Tarique Rahman's Swearing-In On Feb 17
US Trade Deal Deets
India and the US provided further clarification regarding the free trade agreement that was announced which lead to the reducing the reciprocal tariffs to 18% from the earlier 25%. The textile sector will be the highest beneficiary for the landmark pact as US accounts for nearly 28% of India's total textile exports, making it the single largest destination for Indian textile manufacturers.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.