On June 19, 2026, Indian stock markets faced a sharp sell-off after Accenture cut its FY26 revenue growth guidance to 3–4%, triggering heavy losses in IT stocks such as Infosys, TCS, Wipro, and HCL Tech. The Nifty IT index plunged over 5–6%, erasing nearly ₹1.35 lakh crore in investor wealth.
Accenture’s Guidance and Global Impact
Revenue Forecast: Accenture lowered its FY26 revenue growth outlook to 3–4%, down from 3–5%.
Bookings Decline: New bookings fell 3% year-on-year to $19.3 billion, with sequential bookings down 12.6%.
Global Reaction: Accenture’s shares dropped 18% on the NYSE, sparking a ripple effect across global IT stocks.
Indian Market Reaction
Sensex: Fell 786 points to 76,624.90.
Nifty 50: Dropped 210 points to 23,959.80.
Nifty IT Index: Declined 5–6%, marking its worst performance of the year.
Market Capitalization: Nearly ₹1.35 lakh crore erased from IT sector valuations in a single session.
Stock-Specific Losses
Infosys: Fell over 8%, hitting a fresh 52-week low.
TCS: Dropped around 6%, reaching its lowest level since 2020.
Wipro: Declined 3–4%.
HCL Tech: Slipped nearly 5%.
Tech Mahindra: Lost about 5%.
Other mid-tier IT firms like Coforge and Persistent Systems also traded 2–5% lower.
Analyst Insights
Bellwether Effect: Accenture’s outlook is seen as a global benchmark for IT demand, especially for Indian firms reliant on US and European clients.
AI Disruption: Analysts warn that generative AI could reduce demand for traditional IT services, deepening structural challenges.
Future Outlook: Experts expect muted earnings growth for Indian IT majors, with possible shifts toward mergers, acquisitions, and new client strategies.
