India's Nifty IT index at three-year low as bellwether Accenture flags weak outlook

Israel

BENGALURU, June 19 : India's Nifty IT index fell to a three-year low on Friday after bellwether Accenture forecast quarterly ​sales below Wall Street view, cut its annual revenue outlook and reported softer bookings in its managed services business. Shares of Indian IT companies, including TCS, Infosys, and HCLTech fell 4 per cent to 8 per cent after Accenture flagged deal delays and a $400 million hit to its Middle East business from the Iran conflict. India's $315 billion IT sector faces