IT Stocks fell after Accenture slashed its fiscal year 2024 revenue guidance to 1-3 per cent as against the earlier 2-5 percent it will impact on shares today.
Sensex went down by 409.53 points after opening and opened red at 72,231.66 in early morning trade today. The Nifty50 index went down by 79.75 points and opened in the negative territory at 21,932.20.
GIFT Nifty futures which is an early indicator of the Nifty 50 index went down by 26.50 points or 0.12 per cent at 22,076.
Nifty Smallcap 100 opened in green, went up by 0.36%, whereas Nifty Midcap 100 went below by 0.05%.
IT stocks went down by 3 per cent, along with metals stocks, auto stocks, energy stocks and oil & gas stocks. Realty gained by over 1.4%, media, banks, pharma, FMCG, and Healthcare showed positive signs in early trading session today.
Nifty IT index went down by over 3% in today’s, wherein HCL Tech, Wipro, Infosys fell up to 4.6%.
Why IT Stocks Are Falling?
TCS Stocks & IT stocks: As Accenture slashed its fiscal year 2024 revenue guidance to 1-3 per cent as against the earlier 2-5 percent it will impact on shares today. After the news, Infosys ADR slipped 3.8 per cent, and Wipro ADR went down by 1.8 per cent.
Top Gainers in 30-share Sensex
Bharti Airtel (+0.77%), ITC (+0.57), Hindustan Unilever (+0.44%), Nestle (+0.43%), L&T (+0.40%), Sunpharma (+1.61%), Titan (+0.91%),
Top Losers in 30-share Sensex
Infosys (-3.37%), TCS, (-2.92%), Tech Mahindra (-2.46%), NTPC (-0.37%), Tata Steel (-0.23%), Kotak Mahindra Bank (-0.15%), Wipro (-3.93%), HCL Tech (-3.91%).
Markets at pre-open
At pre-opening, Sensex traded in the red at 72,231.66, down by 409.53 points or 0.56 per cent, at the same time, the Nifty50 index traded in the red at 21,932.20, down by 79.75 points or 0.36 per cent.
On 21st March, Sensex closed 539.50 points or 0.75 per cent higher and settled at 72,641.19. The NSE Nifty traded with a positive bias and closed with gains of 172.85 points or 0.79 per cent i.e. settled at 22,011.95.
On 21st March, The Nifty Bank Comprises 12 banking stocks, rose by 374 points or 0.81 per cent to finish at 46,684.90. The Nifty Midcap100 and Smallcap100 settled 2.43 percent and 2.51 percent, respectively.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)