Market Midday, 19 June 2026: Sensex Falls, Nifty Slips As Accenture-Led IT Selloff Intensifies
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Stock markets traded lower as a sharp selloff in IT stocks dragged benchmarks down. Nifty IT saw a sharp plunge along with Nifty Realty and Nifty Consumer Durables.
Equity benchmarks continued to trade lower on Friday’s mid-session. They were weighed down by a sharp selloff in information technology (IT) stocks after Accenture’s softer revenue guidance clouded the near-term outlook for the sector. At 12:13 pm:
IT Stocks Lead Market Decline
Selling pressure remained concentrated in technology shares. The Nifty IT index was trading lower by more than 5% at 12:14 pm as investors reacted to concerns over demand visibility and growth prospects in the sector. The weakness followed a broad-based decline in global IT names after Accenture trimmed its revenue growth guidance.
The fall in technology stocks spilled over to the broader market. They offset the strength seen in defensive sectors. Apart from IT, the Nifty Realty index and the Nifty Consumer Durables index also traded lower and added to the pressure on benchmark indices.
Top Stocks On Nifty 50
At 12:17 pm, the top five stocks on the Nifty 50 index were:
Stock-Specific Action
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ICICI Prudential AMC shares fell 2% in early trade after the company’s 34.4 crore shares worth almost ₹1.2 lakh crore became eligible for trade after the expiry of its six-month IPO lock-in period.
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Amber Enterprises India shares rallied over 3% in early trade after the company said that it has inked a manufacturing collaboration with Oppo India.
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Aurobindo Pharma shares gained as much as 2% in early trade after it announced plans to divest four generic pharma products.
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TCS, Infosys, Wipro, HCLTech, and Tech Mahindra shares fell up to 8% in early trade after Accenture lowered the upper end of its annual revenue growth forecast.
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Afternoon Trade Outlook
Market participants are likely to keep a close watch on the performance of IT stocks through the second half of the session, as the sector remains the key driver of sentiment. Continued selling in technology counters could keep the Nifty 50 and Sensex under pressure.
Sources:
Business Standard
CNBC TV18
The Economic Times
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