India's Sensex and Nifty slide as IT stocks tumble

Indian stock markets ended a five-day winning streak on Friday, June 19, 2026, with benchmark indices falling sharply as a selloff in information technology stocks and profit-taking erased recent gains. The BSE Sensex dropped 607.08 points, or 0.78 percent, to close at 76,802.90, while the NSE Nifty declined 154.90 points, or 0.64 percent, to settle at 24,013.10.

The decline was primarily driven by weakness in major IT companies after global consulting firm Accenture cut its full-year revenue growth guidance, raising concerns about demand for technology services. Infosys, Tata Consultancy Services, HCL Tech, and Tech Mahindra were among the biggest losers, with the BSE IT index falling 3.57 percent. Other significant laggards included HDFC Bank, Mahindra & Mahindra, and Reliance Industries.

Market sentiment was also affected by renewed geopolitical uncertainty after the White House announced the postponement of scheduled U.S.-Iran negotiations in Switzerland, citing logistical issues. Analysts noted that this development undermined expectations for smooth progress in broader diplomatic efforts. Foreign institutional investors were net sellers, offloading equities worth over...