Shares of IT majors such as Infosys, HCLTech, TCS and others plunged up to 9% on Friday, dragging the Nifty IT index down more than 6% to its lowest level in over three years, as Accenture’s guidance cut rattled investor sentiment.
The Nifty IT index plunged to 26,634.50 on Friday, the lowest level seen by the sectoral index since April 2023. It is currently the top sectoral loser on the market today. Infosys shares led losses, crashing nearly 9%, while those of TCS, Mphasis, LTI Mindtree, Tech Mahindra, Persistent Systems and HCL Tech tumbled 4-6%.
