IT Sector

Indian benchmark indices extended gains on June 22, 2026, as easing geopolitical tensions, falling crude oil prices, strong buying in Reliance Industries after its AGM, recovering IT stocks, and robust foreign investor inflows supported market sentiment. Nifty closed above 24,100, Sensex rose nearly 300 points, and Pharma, Healthcare, Media, and Oil & Gas sectors emerged as top performers.

Infosys plunged to a new 52-week low of ₹1,030 amid a broad IT sector correction sparked by Accenture's weaker revenue outlook. The stock has significantly underperformed benchmark indices due to concerns around slowing global IT spending, AI-driven industry disruption, geopolitical risks, and weakening demand visibility. Heavy selling pressure erased nearly ₹40,000 crore in market value as investors reassessed growth prospects for the sector.

Indian benchmark indices snapped a five-session winning streak on June 19, 2026, with Nifty closing at 24,013 and Sensex falling 607 points. Weak guidance from Accenture sparked a broad IT sector sell-off, while profit booking and renewed FII selling further weighed on sentiment. Pharma and Defence stocks provided some support amid the broader market weakness.

Indian IT stocks witnessed heavy selling pressure after Accenture trimmed its FY27 revenue growth forecast, triggering concerns over global technology spending. Nifty IT plunged more than 6%, while Infosys, TCS, HCL Tech, Tech Mahindra, LTIMindtree, Persistent Systems, and Mphasis fell sharply. Despite strong quarterly results, Accenture's subdued outlook and concerns around discretionary IT spending weighed heavily on investor sentiment.

Indian IT stocks tumbled up to 8% after Accenture cut the upper end of its FY26 revenue growth guidance, signaling continued caution in enterprise technology spending. While AI, cloud, and cybersecurity investments remain strong, weakness in discretionary spending, slower deal conversions, and pressure on managed services bookings have raised concerns about near-term growth for Indian IT companies such as Infosys, TCS, Wipro, HCLTech, Tech Mahindra, LTIMindtree, and Persistent Systems.

Indian benchmark indices ended higher for the fifth consecutive session as lower crude oil prices, easing geopolitical tensions, and optimism surrounding the India-UK Free Trade Agreement supported investor sentiment. Banking, realty, cement, and pharma stocks drove the rally, while IT stocks remained under pressure following hawkish US Federal Reserve commentary.

Indian IT stocks declined sharply after the US Federal Reserve signaled potential future rate hikes, triggering a global tech sell-off and dragging the Nifty IT index down 1.8%.

Dixon Technologies stock gained over 5% amid reports that the government is likely to approve its proposed joint venture with Vivo. The partnership could significantly boost smartphone manufacturing volumes, strengthen Dixon's EMS leadership, and drive long-term revenue growth.

Global markets reacted to a historic Bank of Japan rate hike, weak Chinese economic data, and a strong semiconductor-led rally in South Korea. Meanwhile, India's Nifty climbed for a third straight session, supported by lower oil prices, a stronger rupee, and optimism surrounding the US-Iran peace deal.

Indian benchmark indices extended their rally on June 16, 2026, as optimism over US-Iran peace talks, lower crude oil prices, and FII buying lifted sentiment. Nifty and Sensex closed higher, with gains led by IT, Realty, FMCG, and Chemicals, while Metal and Auto lagged.