Indian IT stocks tumble as Accenture flags weak outlook

Figurines with computers and smartphones are seen in front of Accenture logo in this illustration taken, February 19, 2024. (Photo: ReutersFile)

BENGALURU, June 19 (Reuters) – India’s Nifty IT ​index slumped 5.8% ‌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.

Shares of Indian IT companies, ​including ​Tata ⁠Consultancy Services, Infosys ​and HCL ​Technologies ⁠fell between 5% and 7%.