BT Opening Bell | Sensex, Nifty tank as IT stocks crack post Accenture results
Sensex slipped 745 points to 76,664 and Nifty fell 221 pts to 23,946 in early deals today.
- Jun 19, 2026,
- Updated Jun 19, 2026 9:40 AM IST
Domestic benchmark indices Sensex and Nifty crashed in early deals on Friday as IT stocks cracked after Accenture's latest revision in FY26 revenue guidance and plans for higher inorganic growth investments. Overnight, Infosys ADRs fell 9.66 per cent to $10.57 apiece. Wipro ADRs were down 3.63 per cent at $2.39 apiece.
The Nifty IT index fell to a three year low of 26,634 on Friday. IT stocks were the top Sensex and Nifty losers.
Sensex slipped 745 points to 76,664 and Nifty fell 221 pts to 23,946 in early deals today.
Among Sensex constituents, Infosys (8%), TCS (6.15%), Tech Mahindra (6%), HCL Tech (5%), HDFC Bank (2%) and Eternal (1.24%) were the top losers while NTPC, Sun Pharma, Bharti Airtel, PowerGrid, RIL, and Trent were the only Sensex gainers rising up 1.16%, respectively.
Nandish Shah - Deputy Vice President, HDFC Securities said, "On the downside, immediate support is placed in the 23,800–24,000 zone. Any corrective dip toward this region is likely to attract buying interest, provided the index sustains above it."
Anand James, Chief Market Strategist, Geojit Investments said, "Despite the volatility, the upswing evolved on anticipated lines. The 24,200 objective is still in play, with 24,300-24,600 also continuing to be in the radar. However, inability to float 24,100 could signal weakness, but a collapse may not unfold unless below 23,800."
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VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, "Guidance cuts by Accenture has triggered sell-off in Indian IT majors’ ADRs. This can cause correction in IT stocks in the domestic market too. Buying can emerge at lower levels in IT since valuations are becoming attractive."
Previous session
The stock market extended its winning streak for the fifth consecutive session on Thursday .Sensex too gained 254 pts to close at 77,409. Nifty closed at 24,168 , up 0.34% or 82.30 pts.
Domestic benchmark indices Sensex and Nifty crashed in early deals on Friday as IT stocks cracked after Accenture's latest revision in FY26 revenue guidance and plans for higher inorganic growth investments. Overnight, Infosys ADRs fell 9.66 per cent to $10.57 apiece. Wipro ADRs were down 3.63 per cent at $2.39 apiece.
The Nifty IT index fell to a three year low of 26,634 on Friday. IT stocks were the top Sensex and Nifty losers.
Sensex slipped 745 points to 76,664 and Nifty fell 221 pts to 23,946 in early deals today.
Among Sensex constituents, Infosys (8%), TCS (6.15%), Tech Mahindra (6%), HCL Tech (5%), HDFC Bank (2%) and Eternal (1.24%) were the top losers while NTPC, Sun Pharma, Bharti Airtel, PowerGrid, RIL, and Trent were the only Sensex gainers rising up 1.16%, respectively.
Nandish Shah - Deputy Vice President, HDFC Securities said, "On the downside, immediate support is placed in the 23,800–24,000 zone. Any corrective dip toward this region is likely to attract buying interest, provided the index sustains above it."
Anand James, Chief Market Strategist, Geojit Investments said, "Despite the volatility, the upswing evolved on anticipated lines. The 24,200 objective is still in play, with 24,300-24,600 also continuing to be in the radar. However, inability to float 24,100 could signal weakness, but a collapse may not unfold unless below 23,800."
The Business Today Show at India Today | Every trading day at 9 am | Complete stock market opening action
Catch all the latest updates coming in from the stock markets on The Business Today Show. This is where you will get all the market opening action on the Dalal Street, and what's hot in the corporate and financial world. Every trading day at 9 am - The Business Today Show at India Today.
Watch Here:
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, "Guidance cuts by Accenture has triggered sell-off in Indian IT majors’ ADRs. This can cause correction in IT stocks in the domestic market too. Buying can emerge at lower levels in IT since valuations are becoming attractive."
Previous session
The stock market extended its winning streak for the fifth consecutive session on Thursday .Sensex too gained 254 pts to close at 77,409. Nifty closed at 24,168 , up 0.34% or 82.30 pts.