INDIA STOCKS-Indian benchmarks flat; Infosys-Anthropic deal lifts IT, Reliance, financials drag

By Bharath Rajeswaran and Vivek Kumar M

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 .NSEI fell 0.04% to 25,674.6 and the BSE Sensex .BSESN 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 .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.5% and 0.1%, respectively.

IT stocks .NIFTYIT climbed 2%, spurred by Infosys' INFY.NS 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 .NIFTYFIN lost 0.4% after rising 0.6% in the previous session, with private lender ICICI Bank ICBK.NS dipping 1%. Oil-to-telecom conglomerate Reliance Industries RELI.NS also fell 1%.

Metal index .NIFTYMET 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 COCH.NS jumped 5% after the company was declared the lowest bidder for a 50-billion-rupee order from the Ministry of Defence.