Closing Bell: Sensex Nifty decline as IT Stocks Crash on Accenture's Weak Guidance, Snapping Five-Day Rally

19 Jun 2026 , 04:37 PM

The Indian benchmark indices snapped their five-session winning streak on June 19, 2026, with Nifty sliding to 24,013 and Sensex tumbling 607 points to close at 76,802, as a sharp selloff in IT stocks dragged the broader market down. Global IT major Accenture’s decision to lower its FY27 revenue growth guidance sparked fears of weaker technology spending worldwide, dragging Infosys, TCS, HCL Tech, and Tech Mahindra sharply lower. Profit booking after the market’s strong five-day rally and renewed FII selling added to the pressure, though Pharma and Defence stocks offered some relief amid the broader selloff.

Market Overview: Nifty, Sensex, and Bank Nifty Performance

• Nifty 50 closed at 24,013.10 down 154.90 points (0.64%)
• Sensex ended at 76,802.90, down 607.08 points (0.78%)
• Nifty Bank settled at 57,685.75, down 278.05 points (0.48%)

Top Gainers

1. Eternal Limited – closing at 263.85 up by 2.05%

2. Bharti Airtel Limited – closing at 1,906.90 up by 1.71%

3. Power Grid Corporation of India Limited – closing at 292.60 up by 1.35%

4. Nestle India Limited – closing at 1,417.50 up by 1.22%

Top Losers

1. Infosys Limited – closing at 1,054.20 down by 6.50%

2. Tata Consultancy Services Limited – closing at 2,135.90 down by 3.06%

3. Tech Mahindra Limited – closing at 1,141.00 down by 2.33%

4. HCL Technologies Limited – closing at 1,135.90 down by 2.23%

5. Mahindra & Mahindra Limited – closing at 3,079.70 down by 1.81%

 

Sectoral Performance Index

Indices	Change
Nifty IT	-3.65%
Nifty Oil & Gas	-1.18%
Nifty Realty	-1.01%
Nifty Cement	-0.74%
Nifty PSU Bank	-0.62%
Nifty Auto	-0.61%
Nifty Financial Services Ex-Bank	-0.57%
Nifty Private Bank	-0.50%
Nifty Pharma	0.73%
Nifty India Defence	0.68%

Sectoral Performance & Key Reasons

IT (-3.65%) emerged as the worst-performing sector after global IT giant Accenture lowered its FY27 revenue growth guidance, raising concerns that enterprise technology spending remains weak. Investors feared slower demand for digital transformation, cloud migration, consulting, and technology modernization projects, leading to sharp selling across major IT stocks such as Infosys, TCS, HCL Tech, Tech Mahindra, LTIMindtree, Coforge, and Mphasis. The cautious outlook, coupled with delays in client decision-making due to geopolitical uncertainties and softer large-deal activity, significantly hurt sentiment across the sector.

Oil & Gas (-1.18%) declined as falling crude oil prices continued to pressure upstream energy companies, while Realty (-1.01%) witnessed profit booking after its recent strong rally despite a supportive lower interest rate outlook. Cement (-0.74%), Auto (-0.61%), PSU Banks (-0.62%), Financial Services Ex-Bank (-0.57%), and Private Banks (-0.50%) also traded lower as investors booked profits following the market’s recent five-session rally and adopted a cautious stance amid global uncertainties. On the positive side, Pharma (+0.73%) emerged as one of the top gainers as investors shifted towards defensive sectors with stable earnings visibility, while Defence (+0.68%) continued to attract buying interest supported by strong order books, robust domestic defence production growth, and long-term government spending visibility.

Main Reasons for Stock Market down Today

1. Sharp Sell-Off in IT Stocks Dragged the Market Lower
   The biggest reason behind today’s decline was the sharp correction in the IT sector, with the Nifty IT index falling nearly 6%. Selling intensified after global IT giant Accenture lowered its FY26 revenue growth guidance, raising concerns that global clients are reducing discretionary spending on technology and digital transformation projects.
2. Accenture’s Weak Outlook Raised Concerns for Indian IT Companies
   Accenture’s revised guidance signalled slower demand for technology services globally. Since Indian IT companies such as Infosys, TCS, HCL Tech, and Tech Mahindra depend heavily on similar global clients, investors feared weaker future revenue growth, triggering broad-based selling in the sector.
3. Profit Booking After a Strong Five-Day Rally
   Investors booked profits after the market’s recent sharp up move. Over the previous five sessions, the Sensex had gained nearly 5% and the Nifty more than 4%, supported by optimism surrounding the US-Iran peace developments. The strong rally encouraged traders to lock in gains
4. FII Selling Returned to the Market
   Foreign Institutional Investors (FIIs) turned net sellers again after three consecutive sessions of buying. According to provisional data, FIIs sold equities worth around ₹1,025 crore, which added pressure on market sentiment and contributed to the decline.

 

Summary-

June 19, 2026, saw the Indian stock market end lower as a sharp sell-off in IT stocks, profit booking after a strong recent rally, and renewed FII selling weighed on investor sentiment.

• IT stocks were the biggest drag on the market, with Infosys, TCS, Tech Mahindra, and HCL Tech falling sharply after Accenture lowered its revenue growth guidance, raising concerns over weaker global technology spending.

• Oil & Gas, Realty, Cement, Auto, and Banking-related sectors also declined as investors booked profits following the recent five-session rally and stayed cautious amid global uncertainty.

• Pharma and Defence, supported by defensive buying and optimism around strong order books and long-term government spending visibility.

With Nifty 50 falling 154.90 points (-0.64%) to 24,013.10, Sensex declining 607.08 points (-0.78%) to 76,802.90, and Nifty Bank slipping 278.05 points (-0.48%) to 57,685.75, market sentiment weakened due to the IT sector correction, weaker outlook from Accenture, profit booking after the recent rally, and renewed FII selling of around ₹1,025 crore.