India IT sector falls 2% after Accenture forecast, AI concerns
Business
India's IT sector took a 2% dip on Tuesday, thanks to slow demand and growing concerns about how AI might shake up traditional tech jobs.
Accenture's gloomy sales forecast for 2025-26 set the tone, leading Indian IT stocks to tumble, down a whopping 29% so far this year.
Investors await TCS July 9 results
IT giants like TCS, Wipro, and Infosys saw their shares slide nearly 3% each, outpacing even the Nifty 50 index's year-to-date drop of 8.3%.
With delayed client spending and global uncertainties piling up, investors are now waiting for TCS's quarterly results on July 9 to see if there's any hope for a turnaround.