Indian Shares Decline as IT Stocks Slump on AI-Led Disruption Worries

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Summary · why it matters

Indian shares fell notably on Friday, with benchmark indexes Sensex and Nifty snapping their five-day winning streak, as doubts emerged over U.S.-Iran talks and Accenture cut its FY26 guidance, sending IT stocks tumbling. The benchmark BSE Sensex ended the session down 607.08 points, or 0.78 percent, at 76,802.90, while the NSE Nifty index settled 154.90 points, or 0.64 percent, lower at 24,013.10. IT stocks bore the brunt of the selling after Accenture slashed its annual revenue growth forecast and warned that client budgets have not been increasing even with AI, with Infosys shares plummeting 6.7 percent and TCS slumping 3.5 percent. Among other prominent decliners, Asian Paints, Tata Steel, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank shed 1-2 percent, while Reliance Industries dropped 1.4 percent on the eve of its 49th Annual General Meeting. Bucking the weak trend, the BSE mid-cap and small-cap indexes edged up by 0.3 percent and half a percent, respectively, and market breadth was strong with 2,232 shares rising against 1,996 declines.

Impact on stocks 5

Financials▲ · 1 stocks
Information Technology▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks
Materials▲ · 1 stocks

Theme Impact 1

Off-coverage companies 4

Tata Consultancy Services LimitedPrivate▼ Negative
Demandrelevance

Accenture cut its FY26 guidance and warned client budgets not increasing even with AI, dragging IT stocks including TCS.

Asian Paints LtdPrivate± Mixed
relevance

Hindustan Unilever LimitedPrivate± Mixed
relevance

Kotak Mahindra BankPrivate± Mixed
relevance

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