India, Sept. 20 -- Christopher Wood, global head of equity strategy at Jefferies and author of the influential Greed & Fear report, has cautioned that the Indian stock market is moving beyond the parameters of IT and banks that had driven the uptick.

"That era is over," he told Business Today.

He said the investors are now facing the bigger challenge of deciding "what not to own."

He said the global software industry is facing structural risks from artificial intelligence.

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Looking beyond the role played by IT and the banking sectors, Wood said: "The whole cement sector is getting interesting, the hospital story remains strong, and defen...