SENSEX, NIFTY50 snap five-day winning streak dragged down by IT shares

The Indian equity benchmarks snapped their five-day winning streak on Friday, June 19, dragged down by intense selling pressure in information technology (IT) shares after Accenture, the US counterpart of Indian IT companies, lowered its revenue guidance for the current financial year exacerbating concerns for IT companies which were was already facing strong headwinds from the rise of artificial intelligence.

The SENSEX fell as much as 940 points and NIFTY50 index touched an intraday low of 23,902 weighed down by heavyweights like HDFC Bank, Infosys, Reliance Industries, Tata Consultancy Services, Mahindra & Mahindra and State Bank of India.

The SENSEX ended 607 points lower at 76,803 and NIFTY50 index dropped 155 points to settle at 24,013.

11 of 15 major sector gauges compiled by the National Stock Exchange ended lower led by the NIFTY IT index's 3.65% fall. During the session, IT index touched its fresh 52-week low of 26,634 after Accenture's lowering of revenue guidance raised concerns about the future earnings of Indian IT companies.

Accenture lowered revenue guidance for 2026 to 3%-4% from its earlier guidance of 3%-5% on the back of West Asia crisis impacting its consultancy business.

NIFTY Bank, Financial Services, PSU Bank, Private Bank, Realty, Consumer Durables and Oil & Gas indices also dropped between 0.5% and 1.2%.

On the flip side, pharma, metal and healthcare shares witnessed buying interest.

Broader markets outperformed their larger peers as NIFTY Midcap 100 index rose 0.2% and NIFTY Smallcap 100 index 0.42%.

Among the individual shares, Yatra Online rose 6% to ₹118 amid reports of the firm acquiring a stake in online travel platform Ixigo.

Infosys was top loser in the NIFTY50 index, the stock fell 6.5% to close at ₹1,054. TCS, Tech Mahindra, HCL Tech, Mahindra & Mahindra, Wipro, Reliance Industries and Kotak Mahindra Bank also declined between 0.9% and 3.06%.

On the other hand, Eternal, Bharti Airtel, Power Grid, Nestle India, NTPC, ITC, Apollo Hospitals and Sun Pharma were top gainers in the NIFTY50 index.

The overall market breadth was neutral as 1,762 shares ended higher while 1,523 closed lower on the NSE.