Sensex tumbles after five-day rally; IT stocks hit hard after Accenture trims full-year revenue outlook

Stock market benchmark indices Sensex and Nifty tumbled in early trade on Friday (June 19, 2026) after a five-day rally, dragged by heavy selling in IT firms following revenue growth guidance cut by Accenture.

Sensex dives over 600 points after five-day rally dragged by IT stocks

The 30-share BSE Sensex tanked 786.58 points to 76,624.90 in early trade. The 50-share NSE Nifty declined 210.95 points to 23,959.80.

Nifty IT stocks dip as Accenture shaves revenue guidance

From the 30-Sensex firms, Infosys dived over 8%, Tata Consultancy Services tumbled 6%, Tech Mahindra traded 5% lower and HCL Tech declined 4.9%. HDFC Bank and Tata Steel were also among the laggards.

NTPC, Bharti Airtel, Trent and Power Grid were among the winners.

The BSE IT index dropped 5.38%.

IT stocks hit hard

“The current sell-off in Indian IT stocks is a direct reflex reaction to global tech giant, Accenture trimming its full-year revenue outlook. By nudging its constant-currency revenue growth guidance down to 3–4% (from 3–5%), and its core commercial guidance down to 4–5%(from 4–6%), Accenture has effectively confirmed that clients remain highly cautious with their wallets.

“Because Indian IT firms rely heavily on the same global pipeline for discretionary tech projects, this shift in Accenture’s forecast serves as a macroscopic warning for the entire sector, prompting investor’s selloffs,” Shashwat Singh, Fundamental Analyst – Bajaj Broking, said.

“Guidance cut by Accenture has triggered sell-off in Indian IT majors’ ADRs (American Depositary Receipts),” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Brent crude, the global oil benchmark, traded 0.93% lower at $79.11 per barrel.

In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 index quoted marginally higher. U.S. markets ended higher on Thursday (June 18, 2026).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,025.20 crore on Thursday (June 18, 2026), according to exchange data.

Benchmark equity indices ended in positive territory on Thursday (June 18, 2026), rallying for the fifth straight session.

The Sensex climbed 254.36 points, or 0.33%, to settle at 77,409.98. The Nifty edged higher by 82.30 points, or 0.34%, to end at 24,168.