Accenture's Weak Guidance Sends Indian IT Sector Stocks into Tailspin

Accenture's latest outlook rattled the Indian stock market on Friday, sending IT sector stocks into a tailspin. Investors lost nearly ₹2 lakh crore as markets opened, and stocks like TCS, Infosys, and Wipro fell sharply. Accenture's weak guidance raised fears that the global slowdown in technology spending could be prolonged. Global IT and consulting company Accenture lowered its fiscal 2026 revenue growth forecast. The company said that companies around the world are showing interest in artificial intelligence (AI), but are not increasing the total technology budget. That is, companies are shifting existing budgets to AI projects instead of spending on new projects. This is what bothered investors the most. Shares of Indian IT companies fell sharply after Accenture's announcement. Shares of Infosys, HPCL, Tech Mahindra and Wipro fell by over 6%.