The sharp market rebound from the depths of March was mainly led by pharma and telecom stocks. Now, tech stocks seem to have taken over as the new favourites. The BSE IT index soared 22% in July, the best performing of all sectoral indices. The strong surge has lifted the weightage of the IT sector in the Nifty50 index to its highest level in five years. So should investors also explore a bigger role for this defensive play in a rocky market