Indian equity markets opened lower on Friday, June 19, after advancing for three consecutive trading sessions. The NIFTY 50 opened below the key 24,000 level, while the BSE SENSEX also traded in negative territory during early trade.
Market sentiment was weighed down by global cues, profit-booking by investors, and sharp selling in information technology stocks. Pressure on the technology sector intensified after US-based IT services company Accenture lowered its revenue growth forecast for fiscal year 2026.
Global market weakness also influenced Indian equities, prompting investors to adopt a cautious stance amid international economic developments and corporate earnings signals. Market participants engaged in profit-booking following the recent rally, adding pressure on benchmark indices. The slowdown in the global technology sector also affected investor sentiment toward Indian IT companies.
A key factor behind the decline in Indian IT stocks was Accenture’s latest business commentary. The company reduced its revenue growth outlook for fiscal year 2026 and highlighted business challenges in certain international markets, particularly in West Asia. Following the announcement, Accenture shares declined sharply in the US market, with the impact extending to Indian IT companies. Investors remain concerned that global spending on technology services may grow at a slower pace than previously expected.
Indian IT companies derive a significant portion of their business from international clients, particularly in North America and Europe. As a result, any weakness in global demand can affect the sector’s business outlook.
The IT sector emerged as the worst-performing segment in Friday’s session. The Nifty IT Index registered a sharp decline, while several major technology stocks came under selling pressure. Shares of Infosys, Tata Consultancy Services (TCS), Tech Mahindra, HCL Technologies and Wipro were among those that declined as investors reduced exposure to the sector amid concerns linked to global technology demand.
While the IT sector remained under pressure, some other sectors provided partial support to the market. Stocks from the energy, pharmaceutical and select consumer segments showed relatively better performance. NTPC, Adani Enterprises, Sun Pharma, Trent and Cipla were among the stocks that traded higher in early dealings.
