Mutual funds see ₹50,000 crore notional loss amid IT selloff: Report

Indian mutual funds recorded a notional loss of over ₹50,000 crore amid a selloff in IT stocks. Their investments in the top 10 IT companies declined to ₹3.04 lakh crore as of February 13, from ₹3.56 lakh crore in January, according to ACE Equities. The downturn has been driven by concerns that AI could reduce demand for IT support services.