Indian software and IT services stocks fall sharply after Accenture Plc issues a more cautious outlook for growth, adding to a broader global selloff in technology shares. Multiple reports say the decline is broad-based, affecting large-cap and mid-cap companies and pulling down the sector on Indian benchmarks. Stocks including Tata Consultancy Services, Infosys, HCLTech, Tech Mahindra and Wipro drop in early trade, and several mid-tier names also fall steeply, with IT shares dominating the list of biggest losers on the Nifty 500.
The move follows Accenture’s guidance that narrows its full-year revenue growth forecast to about 3% to 4% (from a prior range that included 3% to 5%). While Accenture reports year-on-year revenue growth, investors focus on weaker-than-expected forward revenue expectations and other signals from management. Accenture cites limited expansion in client budgets as spending shifts toward AI initiatives rather than increases in total technology outlays, notes geopolitical disruptions in the Middle East, and points to a decline in outsourcing bookings.
Reports also tie the concern to potential demand pressure for Indian IT exporters reliant on discretionary spending in markets such as the United States.
