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Sensex Tumbles After Five-Day Rally; IT Stocks Hit Hard After Accenture Trims Full-Year Revenue Outlook
Accenture lowered its revenue-growth outlook and warned of weaker demand, sending Indian IT shares down as much as 8% and the Nifty IT index lower.
- On Friday, June 19, 2026, Indian IT stocks tumbled as investors reacted to a sharp overnight sell-off in Accenture, with the Nifty IT index plunging nearly 6 per cent.
- Accenture trimmed its full-year revenue growth guidance to between 3 per cent and 4 per cent, noting that client budgets remain lukewarm despite growing interest in Artificial Intelligence.
- Major Indian IT firms saw significant declines on the BSE, with Infosys dropping over 8 per cent and Tata Consultancy Services falling 6.52 per cent, erasing roughly Rs 2 lakh crore in market capitalisation.
- Shashwat Singh, Fundamental Analyst at Bajaj Broking, warned the shift serves as a "macroscopic warning," while VK Vijayakumar of Geojit Investments Limited noted selling pressure in American Depositary Receipts.
- Global brokerage Citi remains cautious on the Indian IT sector, stating, "We have been cautious given AI disruption, increased competitive intensity, GCC trends, etc.; the macro uncertainty increases the challenges near term.
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13 Articles
13 Articles
Indian Software Stocks Tumble After Accenture Warns on Growth
Shares of Indian software firms tumbled on Friday, joining a global selloff in tech stocks after Accenture Plc forecast slower revenue growth, deepening concerns over a sector that has shed nearly 30% of its market value this year.
·New York, United States
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Infosys Share Price: Stock crashes 8%, TCS, Wipro, HCL Tech too in red - Here's why
Shares of Infosys crashed over 8 per cent on Friday, June 19, 2026, as IT stocks are under pressure following a sharp overnight sell-off in Accenture. The counter opened with a gap-down, falling 5.7 per cent to Rs 1,063.05 from the previous close of Rs 1,127.25 on the BSE. It continued to decline amid profit booking and touched an intraday low of Rs 1,030.35, down Rs 96.9, or 8.6 per cent. This is also the stock's fresh 52-week low. The 52-week …
·India
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Coverage Details
Total News Sources13
Leaning Left4Leaning Right3Center0Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
R 43%
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