Indian shares slump as IT stocks nosedive after Accenture's weak guidance

EarningsIndustry Impact 4
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Summary · why it matters

Indian shares fell sharply in early trade on Friday, with IT stocks plunging after Accenture slashed its annual revenue growth forecast, raising concerns about the outlook for Indian IT companies. The benchmark BSE Sensex dropped 702 points, or 0.9 percent, to 76,702, while the broader NSE Nifty index declined 187 points, or 0.8 percent, to 23,981. Tech Mahindra, HCL Technologies, TCS, and Infosys plummeted between 4 and 8 percent, and Wipro tumbled 3.5 percent despite completing a large multi-year data center migration project for METRO AG. HDFC Bank fell 2 percent after the RBI extended Keki Mistry's term as interim part-time chairman until September 18, 2026, while Reliance Industries edged up about half a percent ahead of its AGM, with investors awaiting updates on the proposed listing of Jio Platforms. Bharat Forge gained 1 percent after its defense arm KSSL partnered with US military vehicle maker AM General, Amber Enterprises rose about 1 percent on a manufacturing collaboration with Oppo Mobiles India, and Diamond Power Infrastructure rallied 2.8 percent on fund raising reports.

Impact on stocks 4

Information Technology▲ · 2 stocks
Energy Transition & Power Demand▲ · 1 stocks
Financials▲ · 1 stocks

Off-coverage companies 6

Bharat ForgePrivate▲ Positive
Demandrelevance

Defense arm KSSL partnered with US military vehicle maker AM General.

Diamond Power Infrastructure LtdPrivate▲ Positive
Capitalrelevance

Rallied on fund raising reports.

HCLTechPrivate▼ Negative
Demandrelevance

Accenture slashed revenue forecast, raising concerns about IT spending outlook; HCLTech fell 4-8%.

Tata Consultancy Services LimitedPrivate▼ Negative
Demandrelevance

Accenture slashed revenue forecast, raising concerns about IT spending outlook; TCS fell 4-8%.

Tech Mahindra LimitedPrivate▼ Negative
Demandrelevance

Accenture slashed revenue forecast, raising concerns about IT spending outlook; Tech Mahindra fell 4-8%.

Amber Enterprises India LtdPrivate▲ Positive
Demandrelevance

Rose about 1% on manufacturing collaboration with Oppo Mobiles India.

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