Nifty IT crashes 6% to 3-year low as Infosys, HCL Tech, other IT stocks crash up to 9%. Time to buy the dip?

The Nifty IT index crashed 6% to 26,634.50, its lowest level since April 2023, wiping out about Rs 1.35 lakh crore in market value. The selloff was triggered by a 11% crash in Accenture's shares on Wall Street after the firm cut its FY26 revenue growth guidance to 3-4% from 3-5% and projected Q4 revenue of $17.75-18.4 billion, below Street estimates of $18.47 billion. Infosys fell nearly 9%, while TCS, Mphasis, LTI Mindtree, Tech Mahindra, Persistent Systems, and HCL Tech dropped 4-6% on concerns that US enterprises remain cautious on discretionary IT spending.