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The Global AI Shock That Spilled Into Dalal Street Early February 2026 will be remembered as the moment markets stopped treating AI as a feature and started treating it as a competitive threat . The trigger was not weak earnings. In fact, many global software companies reported stable or better-than-expected results. Yet stocks sold off sharply across the board. The catalyst was the launch of Anthropic’s new Claude agent-based tools , which pushed AI from “assistant” to “auto

At first glance, the setup looks odd.Global equity markets are holding up reasonably well. The US is near highs, Europe is stable, Japan refuses to die quietly. And India? India is correcting. This has led to the usual panic theories. Global slowdown incoming. Something is “wrong” with India. Smart money knows something retail doesn’t. None of that is true. India’s correction has very little to do with global macro stress. It has a lot to do with how India entered this phase

Most people invest in mutual funds because they don’t want to think about the economy all the time. No views on interest rates, no opinions on inflation, no stress about what’s happening globally. You pick a few funds, set up SIPs, and move on. That’s the intention. The outcome is different. Every equity portfolio ends up taking macro positions anyway. Not because investors want to, but because markets force those positions onto them. Over time, those positions add up to a fa

Most investors buy mutual funds to avoid taking big, concentrated bets. The assumption is simple: if you own a few good funds across categories, diversification takes care of itself. In reality, many portfolios are far more concentrated than they appear, just not in obvious ways. In India, that concentration shows up most clearly in banking. Why Banking Sits at the Core of Indian Mutual Funds Indian equity markets are built around financial services. As banks have grown large