The Core Report #797 The IT Fear Wave Bringing Down Markets
Feb 12, 2026
Sheetal Sapale, VP Commercial at PharmaRack, tracks pharma trends in India including GLP-1 weight-loss drugs. Aditi Nayar, Chief Economist at ICRA, analyzes inflation and GDP measurement shifts. They discuss IT sector repricing amid AI fears. They explore CPI rebasing, changing inflation weights, and implications for policy. They also cover the coming boom and generics race in weight-loss drugs.
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AI Repricing Threatens Traditional IT
- AI fears are triggering a broad market repricing as investors shift from hunting winners to fleeing vulnerable software and services firms.
- This reassessment treats AI as a potential substitute for human-driven software and services, not just a productivity tool.
IEA Lowers 2026 Oil Demand Outlook
- The IEA cut its 2026 oil demand forecast, weighing on crude prices as markets factor slower demand growth and a projected surplus.
- Brent and WTI fell after the agency warned of slower-than-expected demand despite recent outages.
CPI Basket Reset To Reflect Modern Spending
- India updated the CPI base year to 2024, adding modern items like streaming services and exercise equipment while removing obsolete goods like VCRs.
- The new index gives services a higher weight and reduces food's share, which should lower CPI volatility from food price swings.