Indian IT stocks tumble as bellwether Accenture flags weak outlook

India's Nifty IT index fell 5.6% after Accenture forecast quarterly sales below Wall Street expectations and cut the upper end of its annual revenue outlook. The weaker guidance was tied to softness in Accenture's Middle East business, signaling pressure on IT services demand. The move is likely to weigh on Indian IT stocks and sector sentiment.

Analysis

India's Nifty IT index fell 5.6% after Accenture forecast quarterly sales below Wall Street expectations and cut the upper end of its annual revenue outlook. The weaker guidance was tied to softness in Accenture's Middle East business, signaling pressure on IT services demand. The move is likely to weigh on Indian IT stocks and sector sentiment.