Mumbai, June 19: Indian equity markets witnessed sharp pressure in the technology space on Thursday, with the Nifty IT index falling over 6 per cent after global IT major Accenture’s revised guidance dampened investor sentiment across the sector.
The decline was driven by concerns over weakening demand outlook in global technology services, triggering a broad-based sell-off in Indian IT stocks. Market participants reacted negatively to the external cues, leading to heavy profit booking across major IT counters.
Analysts noted that Accenture’s guidance revision has raised caution regarding near-term revenue visibility for the sector, especially for companies with significant exposure to international markets. The development also sparked weakness in related technology and export-oriented stocks.
Despite the sharp correction in IT shares, broader market sentiment remained relatively stable, supported by strength in select defensive and financial stocks. However, IT remained the primary drag on benchmark indices during the session.
Experts believe that while short-term volatility may persist in the sector, long-term fundamentals remain supported by digital transformation trends, enterprise technology spending, and outsourcing demand. Investors are expected to track upcoming global earnings and management commentary for further clarity on sector recovery.
Market participants will continue to monitor global macroeconomic indicators, currency movement, and demand trends in key export markets, which are likely to influence near-term performance of the IT sector.