Sensex Slumps 600 Points as IT Selloff and Heavyweight Drag Break Winning Streak
The Indian equity markets faced a sharp reversal on Friday, snapping a five-session winning streak as heavy selling pressure gripped major indices. While the Nifty50 managed to hold its position above the 24,000 mark, the BSE Sensex tumbled by over 600 points, driven by a massive selloff in technology stocks and weakness in heavyweight blue-chip companies.
IT Sector Under Siege Following Accenture’s Weak Guidance
The primary catalyst for the market's decline was a brutal selloff in the technology sector. The Nifty IT index emerged as the day's worst performer, plunging over 6% to hit its lowest level since April 2023. This downturn was triggered by global contagion after the US-based consulting giant, Accenture, slashed its FY26 revenue growth forecast to 3-4%, down from its previous guidance of 3-5%.
Investors reacted fearfully to the news, anticipating that corporate clients may reduce discretionary spending on digital transformation. On Dalal Street, the impact was severe: Infosys led the carnage with a nearly 9% drop, while Tata Consultancy Services (TCS) fell 3.53% and HCLTech declined 2.74%. Other major players like Tech Mahindra and Mphasis also saw significant losses, reflecting a broader sentiment of caution regarding the US market exposure of Indian IT firms.
Heavyweights HDFC Bank and Reliance Drag Benchmarks
The market decline was not limited to the tech sector. Significant pressure came from index heavyweights HDFC Bank and Reliance Industries Limited (RIL), which weighed heavily on both the Sensex and Nifty50.
HDFC Bank shares dropped 2.25% to close at Rs 781. This decline was partly attributed to the stock trading ex-dividend for its final dividend of Rs 13 per share. Despite the price adjustment, the bank remained in focus following the RBI's approval of a three-month tenure extension for Keki Mistry as interim part-time chairman.
Simultaneously, Reliance Industries closed down 1.25% at Rs 1,311.50. The volatility came amidst the company's 49th AGM, where Chairman Mukesh Ambani announced that the draft red herring prospectus for the Reliance Jio Platforms IPO would be filed with SEBI.
Market Summary: Breaking the Bullish Momentum
La séance de vendredi a représenté une période de refroidissement significative après un rallye robuste. Au cours des cinq jours de bourse précédents, le Sensex avait progressé de 4,84 % (3 577,43 points) et le Nifty avait avancé de 4,34 % (1 006,4 points).
Le BSE Sensex a clôturé la séance à 76 802,90, en baisse de 607,08 points ou 0,78 %. À un moment donné lors des échanges intrajournaliers, l'indice a connu une baisse encore plus marquée, touchant un point bas de 76 469,72. Le NSE Nifty50 s'est établi à 24 013,10, marquant un recul de 154,90 points ou 0,64 %. Outre l'informatique et la banque, des actions telles que Mahindra & Mahindra et Hindustan Unilever ont également clôturé dans le rouge, accentuant l'atmosphère de prudence alimentée par de nouvelles préoccupations géopolitiques.
Points clés
- Volatilité du secteur de l'IT : Des perspectives de croissance faibles de la part de l'entreprise américaine Accenture ont déclenché une vente massive d'actions informatiques indiennes, faisant chuter l'indice Nifty IT à son niveau le plus bas depuis plus de trois ans.
- Impact des poids lourds : La baisse a été exacerbée par les principaux composants de l'indice, notamment HDFC Bank (impactée par le commerce hors dividende) et Reliance Industries.
- Fin de la série de gains : Le retournement du marché a interrompu un solide rallye de cinq jours au cours duquel le Sensex avait précédemment progressé de près de 5 %.