India Stocks: Indian shares fall after recent rally as IT drags after Accenture results

Accenture

19/06/2026 04:51

Updates for markets open
June 19 (Reuters) - Indian shares opened lower on Friday, after a five-session winning streak, dragged by information technology stocks after  a weak read-through from Accenture's earnings outlook weighed on sentiment. 
The benchmark Nifty 50 .NSEI fell 0.73% to 23,991.2, while the BSE Sensex .BSESN shed 0.72% to 76,852.86, as of 9:15 a.m. IST, after rising 4.3% and 4.78% in the last four sessions, on lower oil prices.
All 16 major sectors logged losses at the open. IT index .NIFTYIT lost 5.1% with all 10 constituents declining.
TCS TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS lost between 3.3% and 6%.
"We see a negative read-aross for Indian IT companies from Accenture's results, given continued low visibility on demand outlook," said Goldman Sachs' analysts.
The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lost 0.2% and 0.5%, respectively.
            

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