By Admin 
- IT stocks fell after Accenture cut its revenue estimates.
- Nifty IT index fell 5.57%, investors suffered huge losses.
- IT stocks like Infosys, TCS have fallen by 8%.
- As soon as the market opened, investors lost Rs 2 lakh crore.
Stock Market Down: A big decline is being seen in the Indian stock market today. Especially, tremendous selling is being seen in the shares of IT sector.
Global IT sector giant Accenture’s reduction in its annual revenue guidance had such an impact that the Nifty IT index fell by a huge 1636.20 points or 5.57% to 26830.25. This is one of the biggest declines in IT sector stocks in the last one month.
Accenture gave a big blow
Global technology and consulting firm Accenture reduced its growth forecast for the financial year 2026 to between 3-4% from the earlier 3-5%. Since Accenture is considered the ‘bellwether’ or direction-setter of the global IT industry, its weak assessment shocked tech investors all over the world.
This is the reason why a huge decline is being seen in the tech sector today. Nifty IT index has fallen by 6% in early trading in the domestic stock market. Big tech stocks like Infosys, Tech Mahindra and Tata Consultancy Services saw a huge decline of up to 7%. This is the second time in a row that Accenture has cut its revenue guidance. Due to this, there was a huge fall in American Depository Receipts (ADRs) of Indian tech stocks overnight last night.
Today, during trading in the stock market, Nifty IT index has fallen the most among all the sectoral indices by 5.85%. Infosys has suffered the most loss, whose shares have fallen by a huge 8%. After this, many other IT stocks like Mphasis, TCS, Tech Mahindra, HCL Technologies, LTM (LTI Mindtree) also became victims of heavy selling.
Cleared in 2 lakh crore minutes
There was a panic in the Indian stock market due to the announcement of Accenture reducing its revenue estimates and the company cutting its technical expenses in this era of AI (Artificial Intelligence). Its effect was such that as soon as the market opened, investors’ wealth worth about Rs 2 lakh crore was lost. According to JP Morgan’s analysis, even without any recession, this proved to be the biggest decline (-34%) in the software sector in the last 30 years, which sank investors’ wealth worth Rs 2 lakh crore.
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