Infosys, HCLTech, TCS, Wipro Shares Live: Nifty IT Plunges Over 6% After Accenture Cuts Guidance

Infosys showed signs of recovery in the futures market.

• Infosys futures rose 0.15%.
• Open interest eased 0.56%.
• The decline in open interest alongside gains indicated short covering activity.

Tech Mahindra attracted selective buying interest.

• Tech Mahindra futures advanced 0.43%.
• Open interest declined 3.19%.
• The derivatives pattern suggested traders were closing short positions.

Persistent Systems traded in positive territory as traders reduced positions.

• Persistent Systems futures rose 0.35%.
• Open interest fell 1.56%.
• The price and open interest combination pointed to short covering.

Tata Elxsi recovered in the derivatives segment.

• Tata Elxsi futures gained 1.09%.
• Open interest declined 1.86%.
• The stock witnessed short covering after earlier weakness.

KPIT Technologies saw mild gains in futures trade.

• KPIT Technologies futures rose 0.69%.
• Open interest slipped 5.17%.
• The trend reflected short covering in the stock.

LTM bucked the broader weakness seen earlier in the session.

• LTM futures rose 0.18%.
• Open interest declined 2.40%.
• The derivatives data indicated traders were unwinding short positions.

Coforge traded higher amid a decline in outstanding contracts.

• Coforge futures advanced 0.40%.
• Open interest fell 4.57%.
• The move suggested short covering by market participants.

Birlasoft attracted buying interest in the derivatives segment.

• Birlasoft futures gained 1.32%.
• Open interest declined 3.93%.
• The derivatives setup indicated short covering in the counter.

Mphasis witnessed signs of short covering as the stock edged higher.

• Mphasis futures rose 0.23%.
• Open interest fell 5.91%.
• The combination of rising prices and lower open interest pointed to traders covering short positions.

Oracle Financial Services continued to outperform the broader IT pack in derivatives trade.

• Oracle Financial Services futures rose 0.82%.
• Open interest declined marginally by 0.04%.
• The stock remained one of the few technology names trading in positive territory.

Oracle Financial Services bucked the broader trend in the sector.

• Oracle Financial Services futures rose 1.03%.
• Open interest increased 74.83%.
• The stock stood out as one of the few technology names trading higher.

Mphasis continued to witness selling pressure in derivatives trade.

• Mphasis futures declined 2.71%.
• Open interest climbed 45.77%.
• The increase in open interest alongside lower prices suggested fresh short positions.

KPIT Technologies remained under pressure, although additions to positions were relatively limited.

• KPIT Technologies futures fell 1.34%.
• Open interest increased 4.80%.
• The stock joined the broader weakness across the IT sector.

Tata Elxsi continued to trade lower in line with the broader IT pack.

• Tata Elxsi futures declined 2.56%.
• Open interest rose 69.12%.
• The derivatives trend pointed to fresh selling activity.

Coforge remained in the red during futures trade.

• Coforge futures fell 2.75%.
• Open interest increased 56.47%.
• Traders added positions as the stock weakened.

LTM traded lower as traders increased exposure in the derivatives segment.

• LTM futures declined 2.69%.
• Open interest rose 10.44%.
• The move indicated fresh short build-up in the counter.

Wipro extended losses amid broad-based weakness in technology stocks.

• Wipro futures declined 2.91%.
• Open interest rose 34.58%.
• The increase in outstanding positions suggested fresh short build-up.

HCL Technologies remained under pressure in futures trade.

• HCL Tech futures fell 3.94%.
• Open interest climbed 52.30%.
• The derivatives data reflected fresh selling interest.

Persistent Systems traded lower as derivatives activity picked up.

• Persistent Systems futures fell 4.26%.
• Open interest increased 138.93%.
• Traders added fresh positions as the stock weakened.

Tech Mahindra remained among the worst-hit IT counters.

• Tech Mahindra futures dropped 4.74%.
• Open interest rose 229.46%.
• The rise in positions alongside price weakness pointed to fresh short build-up.

Tata Consultancy Services continued to witness weakness in futures trade.

• TCS futures declined 5.62%.
• Open interest increased 78.56%.
• The derivatives trend suggested traders were building fresh short positions.

Infosys remained under pressure in the derivatives segment as traders added fresh positions amid the decline.

• Infosys futures fell 7.15%.
• Open interest rose 134.07%.
• The combination of falling prices and higher open interest indicated fresh short build-up.

Accenture's latest quarterly update points to a cautious demand environment for Indian IT companies, with signs that discretionary spending remains under pressure.

• The company's guidance cut suggests clients continue to delay spending decisions, signalling a softer near-term demand outlook.

• Consulting demand remained subdued, indicating that discretionary technology spending has yet to recover meaningfully.

• The communications, media and technology segment grew 9% for the second consecutive quarter, a positive read-across for Tech Mahindra, which derives around one-third of its revenue from the vertical.

• Asia-Pacific outperformed with 8% growth, compared with 4% growth in EMEA, highlighting stronger momentum in the region.

• Accenture's $4.2 billion push into cybersecurity reinforces the segment's position as a key growth area for the broader IT services industry.

Systematix said Accenture's acquisition strategy points to a broader competitive push.

• The company raised its planned FY26 acquisition spend to around $9 billion from $5 billion earlier.
• It is targeting areas such as OT cybersecurity, data centres, AI enablers and mid-market solutions.
• The brokerage said the strategy could intensify competition for Tier-I Indian IT companies.

Equirus said Accenture's acquisition plans indicate a broader strategy shift.

• Accenture raised its M&A budget to $9 billion from $5 billion indicated previously.
• The brokerage said the company appears open to acquiring higher-growth assets.
• It added that execution and integration will remain key factors to watch.

Systematix highlighted weakness in discretionary spending.

• Accenture's consulting revenue grew 1% year-on-year in local currency.
• The company cited macro uncertainty and Middle East-related disruptions.
• The brokerage said discretionary consulting demand remains subdued.

PL Capital said Accenture's push into the mid-market segment could increase competitive pressures for Indian mid-cap IT companies.

• Accenture plans to target enterprises with revenue between $300 million and $3 billion.
• The company estimates the segment represents a $240 billion addressable market.
• The brokerage said the strategy could intensify competition for Indian mid-cap IT service providers.

Nishchal Jain, Quant Researcher at Share.Market by PhonePe, said the sharp decline in the Nifty IT index marks a significant deterioration in the sector's technical setup.

• He said the index has broken below key support levels that had held over recent weeks.

• Jain noted that Nifty IT is now trading below its 50-day and 200-day daily moving averages, indicating continued near-term weakness.

• He added that while momentum indicators suggest the index has entered oversold territory, a sustained recovery would require the formation of a stronger base over time.

Nishchal Jain, Quant Researcher at Share.Market by PhonePe, said the correction in IT stocks reflects broader concerns around technology spending and the pace of returns from artificial intelligence investments.

• He said global enterprises are delaying discretionary technology spending and high-margin consulting projects, while prioritising cost-optimisation and managed services.

• Jain highlighted what he described as an "AI disruption paradox", where long-term generative AI bookings remain healthy but near-term monetisation has been slower than expected.

• He added that investors are weighing the possibility that AI-driven efficiencies could gradually affect traditional headcount-based billing models used by IT services companies.

Systematix said Accenture's expansion strategy could increase competitive intensity.

• The launch of Accenture Edge marks a push into the mid-market segment.
• The brokerage said the move could raise competition and pricing pressure for mid-tier IT firms.
• Mid-market players may face increased challenges in winning business.

Equirus said Accenture's focus on smaller enterprises marks a change in approach.

• Accenture plans to target companies with annual revenue of $300 million to $3 billion.
• The company estimates the segment represents a $240 billion market opportunity.
• Equirus said the move raises questions about growth opportunities within its existing business.

PL Capital said the communications, media and technology segment continued to support Accenture's growth.

• The segment grew 9% year-on-year in constant currency during the quarter.
• Financial services growth moderated to 3%, while healthcare remained flat.
• The brokerage said growth was broad-based across most business segments and regions.

Systematix said the postponement of major contracts could affect near-term visibility.

• Accenture said a couple of large managed services opportunities moved into FY27.
• The brokerage said this could weigh on bookings and revenue visibility.
• It added that slippage risks in large deal closures remain elevated.

Equirus attributed the softer order book to deferred large contracts.

• Accenture said some managed services opportunities shifted into FY27.
• Managed services bookings declined during the quarter.
• The brokerage said the delays reflected slower client decision cycles.

PL Capital said Accenture's bookings data reflected continued caution among clients.

• Managed services bookings fell 15% year-on-year to $9.1 billion.
• Total bookings slipped 3% year-on-year to $19.3 billion.
• The brokerage said the trend points to ongoing weakness in discretionary spending.

Sonata Software also witnessed weakness in the futures segment.

• Sonata Software futures fell 2.80%.
• Open interest rose 19.48%.
• The stock saw fresh positions emerge during the decline.

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Systematix said recent developments have reduced expectations of a quick recovery in the sector.

• Accenture lowered the upper end of its FY26 revenue growth guidance to 3%-4% from 3%-5%.
• The brokerage said weaker visibility and deal delays indicate a slower recovery path.
• Large contract deferrals into FY27 also weighed on sentiment.

Equirus said Accenture's guidance implies that demand headwinds have not eased.

• The brokerage said macro-related issues could continue through April-September 2026.
• It remains watchful of the effect on FY27 growth estimates for Indian IT companies.
• The commentary points to a cautious spending environment.

Zensar Tech was among mid-cap IT stocks trading lower.

• Zensar Tech futures declined 2.76%.
• Open interest increased 37.90%.
• The derivatives data reflected fresh selling activity.

PL Capital said Accenture lowered the upper end of its FY26 revenue growth guidance due to continued uncertainty.

• Accenture revised its FY26 constant-currency revenue growth outlook to 2%-4% from 2%-5% earlier.
• The company expects disruption linked to the Middle East conflict to continue into the fourth quarter.
• The brokerage said the update suggests a subdued demand environment.

Systematix said geopolitical tensions affected Accenture's quarterly performance.

• Accenture reported an estimated $100 million revenue impact during the quarter.
• The effect stemmed from both direct exposure to the Middle East and indirect disruptions elsewhere.

The brokerage said the conflict added to existing demand uncertainty

Birlasoft traded lower, although the increase in derivatives positions remained limited.

• Birlasoft futures fell 1.66%.
• Open interest rose 6.53%.
• The stock joined the broader weakness across IT counters.

Equirus highlighted the impact of geopolitical tensions on client spending patterns.

• Accenture said the Middle East conflict affected consulting and discretionary work.
• The brokerage noted that delayed decision-making extended beyond the region.

It said the trend could keep demand conditions subdued in the near term.

PL Capital highlighted that disruptions linked to the Middle East conflict affected Accenture's revenue and bookings.

• Accenture reported an estimated $100 million revenue impact in the quarter from the conflict.
• Several large managed services deals were deferred into FY27.
• The brokerage said the trend signals longer decision cycles for clients.

Tata Elxsi extended losses in line with the broader weakness in IT stocks.

• Tata Elxsi futures fell 2.75%.
• Open interest increased 42.46%.
• The stock saw fresh additions to outstanding positions.

Systematix highlighted a potential services opportunity linked to AI adoption.

• Accenture said rising AI infrastructure and token costs are driving demand for optimisation services.
• The company compared the trend with the early phase of cloud adoption.
• The brokerage said this could open a new area of work for service providers.

Equirus maintained that artificial intelligence remains a positive demand driver.

• The brokerage said enterprises are investing in modernising core technology systems.
• It expects AI adoption to support transformational spending.
• Equirus said it will monitor the long-term trajectory of AI-native services demand.

Mphasis remained in the red as traders increased activity in the counter.

• Mphasis futures fell 2.29%.
• Open interest rose 156.48%.
• The rise in open interest alongside price weakness suggested fresh short build-up.

PL Capital said Accenture continued to report strong momentum in artificial intelligence-related work.

• Clients are investing in cloud, data, security and operating model changes to support AI adoption.
• Accenture said at least one in two advanced AI projects led to a related data project.
• The company also plans to expand investments in its operational technology cybersecurity platform.

Systematix said Accenture's latest results point to a challenging environment for Indian IT companies.

• The brokerage cited softer bookings, lower guidance and continued client caution.
• It said macro uncertainty and geopolitical tensions are delaying spending decisions.
• The commentary suggests demand conditions remain under pressure.

LTM also featured among IT stocks under pressure.

• LTIMindtree futures declined 2.30%.
• Open interest increased 51.31%.
• The derivatives trend pointed to fresh short positions.

Equirus said Accenture's order intake data suggests clients remain cautious.

• Accenture reported bookings of $19.3 billion in the quarter.
• Book-to-bill fell to 1.03 times, the lowest level in 14 quarters.
• Equirus said delays in awarding large managed services contracts warrant close monitoring.

PL Capital said Accenture's latest quarterly performance points to a weaker start to FY27 for Indian IT companies.

• The brokerage said delayed deal closures, slower project ramp-ups and prolonged client decision-making could weigh on near-term growth.
• It added that weaker managed services bookings and signs of cautious discretionary spending suggest a softer first half for Indian IT peers.

PL Capital said Accenture's latest quarterly performance points to a weaker start to FY27 for Indian IT companies.

• The brokerage said delayed deal closures, slower project ramp-ups and prolonged client decision-making could weigh on near-term growth.
• It added that weaker managed services bookings and signs of cautious discretionary spending suggest a softer first half for Indian IT peers.

Hexaware Tech was among the IT stocks trading lower.

• Hexaware Tech futures fell 3.03%.

• Open interest climbed 52.54%.

• Traders added positions as the stock weakened.

Morgan Stanley said Accenture's latest commentary suggests the challenging macro environment could extend into the second quarter, raising risks for Indian IT companies.

• The brokerage said Accenture's implied fourth-quarter growth outlook came in below its estimates.

• It highlighted delayed client decision-making and the impact of the Middle East conflict as key factors affecting demand.

• Morgan Stanley said the uncertainty could spill over into Q2, posing risks to FY27 guidance issued by Indian IT companies, with the impact likely to vary across players.

Hexaware Tech was among the IT stocks trading lower.

• Hexaware Tech futures fell 3.03%.
• Open interest climbed 52.54%.
• Traders added positions as the stock weakened.

KPIT Technologies came under pressure in futures trade.

• KPIT Technologies futures fell 3.21%.
• Open interest increased 54.90%.
• The data suggested fresh selling positions in the stock.

Coforge traded lower as traders increased exposure in the futures segment.

• Coforge futures fell 3.57%.
• Open interest rose 64.49%.
• The stock featured among IT names witnessing fresh short build-up.

Wipro extended losses as weakness persisted across information technology stocks.

• Wipro futures dropped 3.16%.
• Open interest rose 42.31%.
• The derivatives data reflected fresh positions during the decline.

HCL Technologies remained under pressure in early trade.

• HCL Technologies futures fell 4.03%.
• Open interest increased 52.74%.
• The stock was among the IT names witnessing fresh selling activity.

Tech Mahindra traded lower as derivatives data showed an increase in outstanding contracts.

• Tech Mahindra futures declined 4.37%.
• Open interest climbed 257.46%.
• The rise in open interest alongside lower prices indicated fresh short build-up.

Persistent Systems joined the broader IT sell-off in derivatives trade.

• Persistent Systems futures fell 4.91%.
• Open interest rose 39.53%.
• The stock was among the IT counters seeing fresh positions on the downside.

Tata Consultancy Services featured among IT stocks witnessing fresh selling in the futures market.

• TCS futures declined 5.80%.
• Open interest increased 28.15%.
• The combination of falling prices and rising open interest pointed to fresh short build-up.

Infosys remained under pressure in futures trade as traders added fresh positions amid the stock's decline.

• Infosys futures fell 7.62%.
• Open interest rose 36.47%, indicating fresh short positions.
• The move made Infosys one of the most active IT names in the derivatives segment.

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Nifty IT fell more than 6% shortly after the opening bell on Friday as investors sold information technology stocks following Accenture's decision to lower its FY27 revenue guidance.

• Shares of Infosys, TCS, HCL Tech, Tech Mahindra and Mphasis were among the major losers in early trade.

• The sell-off pushed the Nifty IT index to its lowest level since April 2023.

• The decline came after Accenture revised down its revenue outlook for FY27.