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DeepNewz, mobile.
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Indian IT stocks faced significant declines following weak Q2FY24 results from Accenture, with major companies like TCS, Infosys, Wipro, HCL Tech, and others falling up to 6%. Nifty IT dropped over 3%, becoming the top sectoral loser, hitting a 2-month low intraday and slipping below the 100-DMA. The decline was led by HCL Tech and Mphasis, marking the biggest single-weekly drop in over a year. Analysts anticipate cautious guidance for FY2025E due to weak near-term demand.
ETtech Top 5 | #Unicorn hiring trends; smartphone makers to gain further ground Also in this letter: ■ ETtech Deals Digest ■ #Accenture guidance cut hits IT stocks ■ #Reddit shares soar on debut https://t.co/oNXHShIZSz
🚨 Tech 3 Today -10% trouble for founders -Accenture effect: Indian IT in the red -Manufacturing dominates IPL sponsorship https://t.co/cOZPzn2IBd
#MCTech3: Top tech and startup news this evening ✴️10% trouble for founders ✴️Accenture effect: Indian IT in the red ✴️Manufacturing dominates IPL sponsorship Sign up for the newsletter👇 https://t.co/nZsT7Bw91l #Technology #Startups #IT #IPL #Accenture
