The stock market today witnessed broad-based selling on Friday, with the Sensex today live falling more than 800 points and the Nifty IT index emerging as the biggest sectoral loser after Accenture plc issued a weaker-than-expected quarterly sales forecast. The disappointing outlook from the global information technology services giant triggered heavy selling across Indian technology stocks, dragging the broader Indian stock market lower despite positive developments in global energy markets.
At the opening bell, the Sensex today live dropped more than 700 points while the Nifty 50 slipped around 200 points, reflecting cautious investor sentiment. As trading progressed, losses deepened, with nearly 1,500 stocks on the National Stock Exchange of India trading in the red, significantly outnumbering advancing shares.
The Nifty IT index declined nearly 6%, making it the worst-performing sector of the day. Weakness also extended to the Nifty Realty and Nifty Consumer Durables indices, indicating widespread selling pressure beyond technology stocks.
Meanwhile, the Indian rupee weakened by five paise against the United States dollar, opening at 94.38 compared with the previous close of 94.33, adding another layer of caution for equity investors.
Accenture Earnings Impact Weighs on IT Stocks
The sharp decline in the stock market today followed Accenture plc‘s quarterly earnings announcement, in which the company projected revenue below Wall Street expectations. As one of the world’s largest technology consulting firms, Accenture is widely viewed as a bellwether for the global information technology services industry.
Its weaker guidance raised concerns about slowing technology spending by corporate clients worldwide. Investors interpreted the forecast as an indication that demand for digital transformation projects and outsourcing services may remain under pressure, leading to a broad selloff across Indian information technology companies.
Market analysts noted that Indian software exporters derive a substantial portion of their revenues from North America and Europe. Consequently, any indication of slowing enterprise technology spending from a global industry leader like Accenture tends to have an immediate impact on investor sentiment toward Indian technology stocks.
Broader Market Sentiment Remains Weak
Beyond the Accenture earnings impact, investors also reacted to a sharp decline in overall market breadth. Reports indicated that almost 1,500 stocks were trading lower on the National Stock Exchange of India, contributing to an estimated erosion of nearly ₹1.3 lakh crore in investor wealth during the trading session.
Although crude oil prices edged slightly higher after remarks by United States Vice President JD Vance warning Israel against violating the ceasefire agreement, the broader market focus remained firmly on corporate earnings and global technology demand rather than geopolitical developments.
Market participants also continued to monitor global interest rate expectations, currency movements and institutional investor flows, all of which have contributed to increased volatility in recent sessions.
Expert View: Lower Oil Prices Could Support Real Estate
Despite weakness in equities, some industry experts believe easing geopolitical tensions could benefit specific sectors.
According to Mohit Gurjar, Founder of BrainWing, the recent ceasefire between the United States and Iran, along with lower crude oil prices, could create favourable conditions for India’s real estate sector. He suggested that lower energy costs may help reduce inflationary pressures, moderate construction and logistics expenses, and support a more stable interest-rate environment.
Gurjar further explained that improving economic certainty generally strengthens buyer confidence in residential property markets. Based on BrainWing’s market observations, he indicated that lower uncertainty often leads to higher customer enquiries, improved buyer sentiment and faster sales conversions for developers. However, he also noted that long-term housing demand continues to depend primarily on project quality, location and affordability rather than short-term macroeconomic developments.
What Investors Should Watch Next
Market experts believe the near-term direction of the Indian stock market will depend on upcoming global economic data, corporate earnings, foreign institutional investment flows and signals from major central banks.
While the sharp fall in the Sensex today live was largely triggered by the Accenture earnings impact, investors will closely watch whether weakness in global technology spending persists over the coming quarters. Domestic investors are also expected to monitor the movement of crude oil prices, the rupee and inflation indicators, all of which could influence market sentiment in the weeks ahead.