IT Stocks Today: Nifty IT Sinks 6% As Accenture Guidance Cut Triggers Sell-Off In Infosys, TCS, HCL Tech

Indian IT stocks witnessed heavy selling on June 19 after global consulting and technology services firm Accenture lowered its full-year revenue growth forecast, reviving worries about the pace of recovery in enterprise technology spending.

The Nifty IT index crashed nearly 6 per cent in early trade, making it the worst-performing sectoral index on the D-Street. The weakness spilled over to the broader market, with the Sensex falling more than 700 points and the Nifty slipping below the 24,000 mark.

The trigger came from Accenture's latest quarterly earnings announcement, where the company narrowed its fiscal 2026 revenue growth forecast to 3-4 per cent in constant currency terms from its earlier projection of 3-5 per cent. Excluding the impact of its US federal business, the company now expects growth of 4-5 per cent, compared with its previous estimate of 4-6 per cent.

Accenture reported third-quarter revenue of $18.72 billion, up 6 per cent from a year earlier. New bookings stood at $19.3 billion, lower than the year-ago period. The company also projected fourth-quarter revenue in the range of $17.75 billion to $18.4 billion, below Street expectations.

Julie Sweet, Accenture's Chair and CEO, said clients are continuing to spend on large business transformation projects, including those involving artificial intelligence. She noted that the company has seen an increase in large deals worth more than $100 million and plans to strengthen its AI, cybersecurity and cloud offerings through acquisitions.

Despite those positives, investors focused on the softer growth outlook and management's disclosure that conflict-related disruptions in the Middle East had affected regional operations during the quarter, with the possibility of additional impact in the coming months.

Infosys, TCS Emerge Biggest Loser

Infosys share price fell more than 8 per cent, emerging as the biggest drag on the Nifty 50. Tata Consultancy Services (TCS) decliuned over 6 per cent, while Tech Mahindra fell around 5 per cent. HCLTech lost more than 5 per cent and Wipro traded lower by nearly 4 per cent.

Selling pressure extended beyond frontline names. Mphasis, Persistent Systems, Coforge, KPIT Technologies, Tata Elxsi, LTIMindtree and L&T Technology Services also recorded steep declines as investors reassessed growth expectations for the Indian IT sector.

The weakness mirrored the overnight rout in global technology services stocks. Accenture shares tumbled nearly 18 per cent in US trading after the earnings release. Indian technology companies listed in the US also came under pressure, with Infosys ADRs sliding close to 10 per cent and Wipro ADRs ending lower.