India snapped a five-session winning streak on Friday as an Accenture-triggered rout in IT stocks dragged the Nifty back to 24,013 and the Sensex down 608 points — though resilient banks and broad-market buying stopped it becoming a wider sell-off.

How India closed

• Nifty 50: 24,013.10, down 155.20 pts (-0.64%)
• Sensex: 76,802.90, down 608 pts (-0.78%); fell as much as 831 pts intraday
• Broader market held up: Nifty Midcap100 +0.22%, Smallcap100 +0.42% — money rotated out of IT, not out of equities
• Nifty IT: the day's worst index, cracking ~6% to a fresh 52-week low

Why IT cracked — and what it means

After the US close on Thursday, Accenture — the global bellwether for IT services — reported Q3 and cut its FY26 local-currency revenue growth guidance to 3–4% (from 3–5%), flagging cautious enterprise discretionary spend (part of the miss was a ~$400m Middle-East/Iran hit). Accenture's stock plunged ~16–17%, and its ADR-led read-through hammered Indian exporters who chase the same North-America deal flow. The signal for the days ahead: caution over global IT spending could linger into the first half of FY27, keeping pressure on the sector until the Indian majors give their own guidance.

Sectors & stocks

• Laggards (all IT): Infosys ~-8% to ~Rs 1,035 (5-year low, top Nifty loser), TCS ~-6.5% near Rs 2,060 (close to a 6-year low), Tech Mahindra ~-6%, HCLTech ~-5.5%, Wipro ~-4%
• Cushion: Financials led the defence — SBI ~+1.6%, with ICICI Bank and Axis Bank higher; NTPC and Power Grid drew defensive buying, HUL ~+1%, and Adani Enterprises rose ~2%
• Stock-specific: HDFC Bank traded ex-dividend (Rs 13), Tata Motors ex-dividend (Rs 3); Reliance was near-flat ahead of its 49th AGM on June 24 (Jio IPO cues in focus)

FII & DII flows

Latest confirmed data (June 18): FIIs net sold ~Rs 1,025 cr while DIIs net bought ~Rs 3,517 cr — the now-familiar pattern of domestic institutions absorbing foreign selling, with DII inflows running at record levels in H1 2026. June 19 provisional figures were not yet published at the time of writing.

Currency & commodities

• Rupee: firmer, rising ~20 paise to around 94.20/$ as tankers resumed transit through a reopened Strait of Hormuz and India-US trade optimism improved (prior close 94.36)
• Crude: Brent ~$78.3/bbl (-0.7%), WTI ~$76.1 (-0.6%) — supply fears easing after the US-Iran deal; soft oil is a tailwind for India
• Gold: firm near $4,316/oz after a ~1.4% rise, holding up as a hedge

Global cues

US markets are closed today for the Juneteenth holiday, thinning global cues (Wall Street had rallied on Thursday, with the Nasdaq 100 +1.9%). Asian shares slipped in thin holiday trade. With no live US prints, direction into next week hinges on Monday's reopen.

Sentiment & what to watch

Read: risk-off in pockets, not panic — the damage was concentrated in IT while the rest of the market stayed firm, helped by cheaper crude and a steadier rupee. Watch whether FIIs turn one day's IT shock into a multi-day selling streak, the FY27 commentary from Infosys and TCS as the next earnings season nears, and Reliance's June 24 AGM for Jio-IPO signals. US markets reopen Monday after the long weekend.

As of ~4:10 PM IST, June 19, 2026. Sources: Business Standard, NiftyTrader, Business Standard (rupee), Business Standard (oil), Business Standard (Asia). Automated market wrap for discussion and education only — not investment advice. Verify before acting.