Indian IT stocks traded lower on Wednesday, July 15, 2026, after US technology giant IBM reported a weaker-than-expected preliminary second-quarter performance, triggering its biggest single-day share price decline in decades.
The weak update raised concerns over enterprise technology spending ahead of the earnings season for Indian IT companies.
As of July 15, 2026, at 11:17 AM, the performance of major IT stocks was as follows:
Company | Share Price (₹) | Change |
1,542.50 | +0.52% | |
11,692.00 | +0.39% | |
1,168.10 | +0.12% | |
1,484.50 | +0.01% | |
4,058.20 | -0.11% | |
2,185.40 | -0.15% | |
175.80 | -0.76% | |
5,087.00 | -0.82% | |
2,341.30 | -1.31% | |
1,076.90 | -1.46% |
The Nifty IT Index fell around 1.75% during the session to touch an intraday low of around 28,223.80, underperforming the broader market even as the Nifty 50 and Sensex gained around 0.5% each.
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IBM reported preliminary Q2 2026 revenue of $17.2 billion and adjusted earnings per share (EPS) of $2.93, both below Wall Street expectations. Revenue missed estimates of $17.9 billion, while EPS also came in below the expected $3.01.
During the quarter, software revenue increased 5% year-on-year; consulting revenue remained flat, and infrastructure revenue declined by 7%.
IBM Chairman and CEO Arvind Krishna said the company "did not adapt and move quickly enough." According to IBM, enterprise customers shifted technology spending towards artificial intelligence (AI) infrastructure, including servers, storage and memory, leading to slower software spending and delays in large enterprise deals.
Following the update, IBM shares plunged 25.21% in the US market, marking the company's biggest single-day decline since at least 1968 and wiping out nearly $70 billion in market capitalisation.
The weakness in IBM also influenced global technology stocks. Infosys and Wipro ADRs declined 4% and 3%, respectively, while shares of Accenture, Salesforce, Microsoft, Cognizant and Autodesk also traded lower.
The sell-off spilled over to Indian IT companies, with investors turning cautious ahead of upcoming quarterly earnings amid concerns over global enterprise technology spending.
Indian IT stocks came under pressure on July 15 after IBM's weaker-than-expected preliminary Q2 results raised fresh concerns over global software spending. While some IT stocks remained resilient, the broader sector underperformed the market as investors assessed the potential impact on demand for technology services.
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Published on: Jul 15, 2026, 11:23 AM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
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