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Indian IT stocks drop up to 7% after Accenture cuts revenue forecast amid AI and economic worries

Market News
19 Jun 2026
CNBC
View Source
Bearish
pluang ai news

Shares of major Indian IT companies fell sharply, with Infosys down over 7% and Tata Consultancy Services dropping more than 5%, following Accenture's lowered revenue guidance for FY 2026. Accenture cited a $100 million impact from the Middle East and missed revenue consensus by $90 million. The Nifty IT Index slid over 5%, reflecting concerns about AI disruption, increased competition, and economic uncertainty. Citi remains cautious on the sector, noting valuation concerns and macroeconomic challenges ahead.

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