Accenture hit to IT, HDFC Bank drag Indian shares off five-session rally

Accenture

19/06/2026 07:51

** India's stock benchmarks Nifty 50 .NSEI and Sensex .BSESN fall 0.9% and 1%, on course to snap a five-session winning run, dragged by IT stocks after Accenture's weak demand commentary
** Twelve of the 16 major sectors log losses; the broader small-caps .NIFSMCP100 rise 0.3%, mid-caps .NIFMDCP100 drop 0.2%
** IT index .NIFTYIT falls 5.2%, slides to a three-year low after Accenture reports a drop in bookings and flags weakness driven by delayed decisions due to the Mideast conflict
** "Accenture's commentary leads to risks of a potential weak Q2, implying risks to financial year 2027 earnings overall for Indian IT companies," says Investec
** Top private lender HDFC Bank HDBK.NS falls 2.7%; the Reserve Bank of India approved a three-month extension for interim chairman Keki Mistry, or until a new Chairman is appointed
** Heavyweight Reliance Industries RELI.NS trades flat ahead of its annual general meeting later in the day
** Despite the session's losses, benchmarks Nifty and Sensex are up 1.4% and 1.5%, respectively, for the week, aided by a drop in crude prices LCOc1 to $80 a barrel on the preliminary U.S.-Iran peace deal

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))