TCS shares fell 3% to a 52-week low of Rs 2037.50 on June 30, 2026. The Nifty IT index declined 30% during the first half of 2026. This performance marks IT as the worst-performing sector in the Indian stock market for the year.
Geopolitical tensions and weak guidance from Accenture triggered the sell-off. Investors fear generative AI will disrupt traditional IT service models. Global clients have reduced technology spending, impacting near-term growth expectations.
Soft revenue forecasts from Infosys and Accenture further weakened market sentiment. The broader market correction continues to pressure the sector's growth prospects.