Nifty IT slides 6% to 52-week low on FY26 cues

What happened in Nifty IT

Indian IT stocks came under sharp pressure in intraday trade, pushing the Nifty IT index lower by more than 2% in one session and as much as 6% in another, amid renewed concerns on growth. In Tuesday’s trade, the Nifty IT index was down 2.2% at 1:03 pm, compared with a 0.71% decline in the Nifty 50. The index hit an intraday low of 26,999.75 on the NSE in that session.

The weakness intensified on a separate day when the Nifty IT index dropped as much as 6.44% to hit a fresh 52-week low of 26,634. The fall was linked to worries about the earnings outlook for Indian IT firms after Accenture lowered its FY26 revenue guidance.

Accenture guidance cut becomes a key trigger

The sharp leg down in the index was attributed to Accenture trimming its FY26 revenue guidance by 1 percentage point. The guidance range was cut to 3% to 4% from the earlier 3% to 5%. That change was closely watched by Indian markets because Accenture is widely viewed as a read-through for demand conditions in global IT services.

As the guidance cut fed into sentiment, traders repriced near-term expectations for Indian exporters of IT services. The selling was broad-based, with all 10 constituents in the Nifty IT index trading lower in one of the sessions described.

How frontline IT stocks moved

On Tuesday, Tata Consultancy Services (TCS), Infosys and Wipro were down 3% each, while LTM, Tech Mahindra and HCL Technologies were down in the 1% to 2% range. On the heavier selloff day, the declines were steeper, led by Infosys and TCS.

Infosys fell more than 8% in one session and hit a 52-week low of ₹1,033.90. In the same move, Mphasis, TCS, Tech Mahindra, LTI Mindtree, HCL Technologies, Persistent Systems and Coforge were also down between 4.4% and 6.4%.

Index levels: fresh lows and key reference points

The Nifty IT index touched a 52-week low of 26,634.50 on Friday, June 19, 2026. In another report, the index was referenced at a 52-week low of 27,078 on May 14, 2026.

Separately, on a Thursday session linked to global cues, the Nifty IT index was down 1% at 10:18 am, even as the Nifty 50 was up 0.10%. In that session, the IT index fell nearly 2% to 28,262.65.

Broader market spillovers

Weakness in IT heavyweights also weighed on headline indices during the sharper selloff. The Sensex fell as much as 805 points and the Nifty50 touched an intraday low of 23,940, with pressure from large names including Infosys, HDFC Bank, TCS, HCL Technologies, Tech Mahindra, Mahindra and Mahindra, and State Bank of India.

The IT sector’s outsized move mattered because of its weight in benchmark indices and its sensitivity to global growth signals and rate expectations.

Other sessions: global cues and rate concerns

In a separate Thursday session, IT stocks fell up to 2% tracking losses in US markets after the Federal Reserve signalled a more hawkish outlook on interest rates. In that trade, Infosys, TCS, HCL Technologies, Wipro, Tech Mahindra and Persistent Systems were down 1% to 2%.

But some mid-to-large names showed intraday recovery in that session, with Coforge, Mphasis and LTM moving higher by up to 1% after recovering from lows.

Selling pressure and medium-term trend points mentioned

Another report noted the Nifty IT index dropped 2.7% to an intraday low of 27,519.15 amid global tech selloffs tied to inflation concerns and rising interest rates. In that move, HCL Technologies fell 3.5%, while Infosys and LTIM fell around 3% each. Mphasis and Persistent Systems dropped more than 2%, with TCS, Coforge and Tech Mahindra down over 1.5% and Wipro and L&T Technology Services down around 1%.

Trend figures cited in the same set of updates included the index falling 11.5% since June 2, 2026 from a close of 31,116.55. Another comment attributed to Pokharna said the Nifty IT Index was down roughly 2% on the day and down about 27% over the past six months.

Key numbers table

Stock moves table (sharp selloff day)

Profit booking and stock-specific lows (separate session)

In another session described as profit booking, the Nifty IT index fell 6% in Wednesday intraday trade after rallying 8% over the past three trading days. TCS slipped 9% to ₹2,230.50 and had a 52-week low of ₹2,206.40 on May 14, 2026. LTM fell 8%, while Persistent Systems, Tech Mahindra and Coforge fell 6% each. HCL Technologies and Infosys were down 4% each in that move.

The same update also noted that over the past four months, the Nifty IT index tanked 24% compared with a 12% fall in the Nifty 50.

Why this matters for investors

The sequence of moves highlights how quickly sentiment in IT services can shift when global demand signals turn cautious. The guidance cut from Accenture, hawkish rate cues from the US, and risk-off moves in global tech combined to pressure Indian IT bellwethers.

The breadth of declines, including all constituents trading lower in one session and multiple stocks printing multi-year or 52-week lows, shows the selloff was sector-wide rather than isolated to one company.

Conclusion

Nifty IT’s slide to fresh 52-week lows was driven by a combination of global cues, earnings-growth concerns, and a negative read-through from Accenture’s FY26 guidance revision. With several large caps hitting new lows and the index testing key levels around 26,634, investors will track further corporate commentary and global market cues for confirmation on demand and margins.