India’s Nifty IT index slumped 5.6% on Friday after industry bellwether Accenture forecast quarterly sales below Wall Street view and lowered the upper end of its annual revenue outlook due to weakness in its Middle East business.
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India’s $315 billion IT sector has faced investor concerns that AI could disrupt its traditional, labour-intensive business model.
Analysts expect a negative read-through for India’s IT companies, with Morgan Stanley saying that inve… [721 chars]
Source: Reuters | Published: 2026-06-19T03:58:00Z
Credit: Reuters
