Sensex Falls As IT Stocks Drag Market
Indian stock markets fell sharply on Friday after a five-session rally, with the Sensex dropping more than 800 points and the Nifty slipping below 23,950. The correction erased around ₹1.3 lakh crore from the market value of Sensex-listed companies within two hours, as selling spread from IT stocks to the broader market.
Stock Market Crash Hits Sensex And Nifty
The fall came after benchmark indices had gained nearly 5% over the previous five sessions. Investors moved to book profits after the recent rally, while weak global cues and renewed caution over valuations added pressure.
Nearly 1,500 stocks declined on the NSE, showing that the selling was not limited to a single sector. Market volatility also rose, with India VIX moving higher as traders turned cautious.
Accenture Impact On Indian IT Stocks
The biggest pressure came from the information technology sector after Accenture lowered its fiscal 2026 revenue growth outlook and projected weaker-than-expected fourth-quarter revenue.
Nifty IT fell nearly 6% intraday, becoming the worst-performing sectoral index. Major IT stocks, including Infosys, TCS, Tech Mahindra, HCL Technologies and Mphasis, dropped between 5% and 8%.
The decline raised concerns that global companies may continue to delay discretionary technology spending. Indian IT firms are closely watched because a large share of their revenue comes from North America.
FII Selling And Global Market Pressure
Foreign institutional investors also added to the pressure by selling equities worth ₹1,025 crore after three sessions of net buying. The selling revived concerns over foreign investor interest in Indian markets at current valuations.
Global market weakness further weighed on sentiment, with several Asian markets trading lower. Ongoing geopolitical risks in the Middle East also kept investors alert, especially over the possible impact on crude oil prices and inflation.
