Nifty IT Down Over 6% on June 19, 2026; Infosys, Mphasis and TCS Share Prices Fall, Here's Why

Indian IT stocks witnessed broad-based selling pressure on Friday after global technology services company Accenture lowered the upper end of its full-year revenue growth forecast and issued a weaker-than-expected revenue outlook for the upcoming quarter. 

The Nifty IT index declined 6.5%, compared with a 1% fall in the benchmark Nifty 50 index. 

IT Share Prices Decline Across the Board 

Infosys share price was the biggest drag on the Nifty IT index, falling 7.5%. Mphasis share price, Tech Mahindra share price, Persistent Systems share price and TCS share price declined more than 6% each. 

HCLTech share price, Coforge share price and LTIMindtree share price also fell more than 5%, while Wipro share price declined 4% and L&T Technology Services share price was down 2%. 

The weakness in Indian IT stocks mirrored the selloff in global technology services companies following Accenture's earnings announcement and revised guidance. 

Global IT Stocks React to Accenture's Outlook 

On the New York Stock Exchange, the American Depository Receipts (ADRs) of Infosys and Wipro declined as much as 10% after Accenture revised its guidance. 

Shares of Cognizant lost more than 10%; IBM declined over 5%, while Capgemini ended the session lower by 8.9%. Accenture share price itself dropped more than 17% after the company announced its quarterly results and updated its outlook. 

Accenture Lowers Revenue Growth Forecast 

Accenture revised its annual revenue growth forecast to 3% to 4% in constant currency terms from its earlier guidance of 3% to 5%. 

Excluding the approximately 1% impact from its US federal business, the company expects revenue growth of 4% to 5%, compared with its previous forecast of 4% to 6%. 

For the fourth quarter, Accenture projected revenue between $17.75 billion and $18.4 billion, below analysts' average estimate of $18.47 billion. 

The company also disclosed that the conflict in the Middle East impacted its regional business by approximately $400 million during the third quarter and stated that further impact could continue in the fourth quarter. 

Third-quarter new bookings declined around 2% year-on-year to $19.3 billion, while revenue increased 6% to $18.72 billion but remained below analyst estimates of $18.75 billion. 

Accenture Plans Higher AI and Acquisition Investments 

Despite the revised guidance, Accenture stated that demand for large-scale transformation projects remains healthy and announced plans to increase investments through acquisitions. 

The company intends to spend $9 billion on acquisitions this year, compared with $5 billion earlier, to strengthen its capabilities in artificial intelligence, cloud computing and data services. 

Accenture also said it is witnessing an increase in large-scale AI transformation programmes, while its operating margin expanded by 20 basis points to 17% during the quarter. 

Conclusion 

Indian IT stocks came under pressure after Accenture reduced the upper end of its annual revenue growth guidance and issued a softer revenue outlook for the fourth quarter. The revised forecast triggered a selloff across global technology services companies, with the weakness extending to Indian IT shares. 

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