Feb 17 (Reuters) - India's benchmark indexes reversed early session's losses to trade flat as gains in information technology stocks, led by Infosys' announcement of a collaboration with Anthropic, countered losses in Reliance Industries and financials stocks.
The Nifty 50 fell 0.04% to 25,674.6 and the BSE Sensex added 0.08% to 83,339.7, as of 10:22 a.m. IST.
Nine of the 16 major sectors logged losses. The broader small-caps and mid-caps rose 0.5% and 0.1%, respectively.
IT stocks climbed 2%, spurred by Infosys' 3% jump, after it announced a collaboration with Anthropic to unlock value in artificial intelligence across complex, regulated industries.
"The collaboration with Anthropic is a big game changer," said Dharmesh Kant, head of equity research at Cholamandalam Securities, adding that investors will watch out for any commentary from IT companies on ongoing AI disruption fears.
IT index had lost 8.2% last week, its worst showing in 11 months.
Financials lost 0.4% after rising 0.6% in the previous session, with private lender ICICI Bank dipping 1%. Oil-to-telecom conglomerate Reliance Industries also fell 1%.
Metal index fell 1.3%, with all the 15 constituents declining, as global metal prices dipped due to a firmer dollar. A stronger dollar makes the commodity costlier for holders of other currencies. [MET/L]
The benchmark shares had risen about 0.8% on Monday, paring some of their 2% slide from the previous two sessions.
"Buyers appear hesitant in early trades, following Monday's uptick, with investors waiting for dips to accumulate stocks," said Anand James, chief market strategist at Geojit Investments.
Among other stocks, Cochin Shipyard jumped 5% after the company was declared the lowest bidder for a 50-billion-rupee order from the Ministry of Defence.
(Reporting by Bharath Rajeswaran and Vivek Kumar M in Bengaluru; Editing by Rashmi Aich and Janane Venkatraman)
By Bharath Rajeswaran and Vivek Kumar M
