Sensex Snaps Winning Streak: IT Selloff and Heavyweight Drag Pull Indices Down

The Indian equity markets faced a sharp reversal on Friday as the BSE Sensex and NSE Nifty50 snapped a five-session winning streak. A massive selloff in the technology sector, coupled with weakness in heavyweights like HDFC Bank and Reliance Industries, sent the Sensex tumbling by over 600 points.

Tech Sector Under Pressure Following Accenture's Outlook

The primary driver behind the market's decline was a brutal selloff in IT stocks. The Nifty IT index emerged as the worst-performing sector, plunging more than 6% to reach its weakest level since April 2023. This volatility was triggered by global sentiment shifts after Wall Street giant Accenture revised its FY26 revenue growth forecast downward to 3–4%, from its previous guidance of 3–5%.

The impact on Indian tech giants was immediate and severe. Infosys emerged as the biggest loser, with shares sliding nearly 9%. Other major players also faced heavy selling pressure: Tata Consultancy Services (TCS) dropped 3.53%, HCLTech fell 2.74%, and Tech Mahindra declined by 2.45%. The downturn reflects growing investor anxiety that global corporate clients may be tightening discretionary spending on digital transformation and IT consulting.

Heavyweights HDFC Bank and Reliance Drag the Benchmarks

While the IT sector led the retreat, the indices were further weighed down by major industrial and banking heavyweights. The BSE Sensex ended the session 607.08 points, or 0.78%, lower at 76,802.90, having touched an intraday low of 76,469.72.

HDFC Bank shares fell 2.25% to close at Rs 781. The decline was largely technical, as the stock began trading ex-dividend for a final dividend of Rs 13 per share. Despite the dip, the bank provided some stability by announcing that the RBI has approved a three-month extension for Keki Mistry's tenure as interim part-time chairman.

Similarly, Reliance Industries (RIL) closed at Rs 1,311.50, down 1.25%. The decline comes at a pivotal moment for the conglomerate, as Chairman Mukesh Ambani recently announced that Reliance Jio Platforms will file its draft red herring prospectus (DRHP) with SEBI for an upcoming IPO.

Sentiment du marché face aux préoccupations géopolitiques

La faiblesse généralisée ne s'est pas limitée à quelques secteurs seulement ; Mahindra & Mahindra et Hindustan Unilever ont également clôturé en territoire négatif. Au-delà des nouvelles sectorielles, de nouvelles préoccupations géopolitiques ont ajouté une couche de prudence sur les marchés, empêchant les indices de maintenir leur dynamique récente.

Cette correction fait suite à une période de gains significatifs, le Sensex ayant progressé de 4,84 % et le Nifty de 4,34 % au cours des cinq dernières séances de bourse. Les investisseurs surveillent désormais de près si la vague de ventes actuelle est une correction temporaire ou le signe de préoccupations structurelles plus profondes concernant les dépenses informatiques mondiales et la stabilité macroéconomique.

Points clés à retenir

  • Crise du secteur informatique : L'indice Nifty IT a atteint son niveau le plus bas depuis plus de trois ans, sous l'effet de la révision à la baisse des prévisions de croissance d'Accenture et des craintes d'une réduction des dépenses informatiques mondiales.
  • Impact des poids lourds : Les principaux composants de l'indice, notamment HDFC Bank (en baisse de 2,25 %) et Reliance Industries (en baisse de 1,25 %), ont largement contribué à la chute de 607 points du Sensex.
  • Fin de la hausse : Le retournement du marché a mis fin à une solide série de cinq jours de hausse au cours de laquelle le Sensex avait progressé de plus de 3 500 points.