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Accenture Forecast Boosts Indian IT Stocks

India's Nifty IT index advanced after Accenture forecast stronger annual revenue growth. The update eased investor concerns regarding technology spending and AI disruption.

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FILE PHOTO: Figurines with computers and smartphones are seen in front of Accenture logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The Nifty IT index rose 1.5% in India on Monday morning following a strong revenue forecast from Accenture. The upbeat outlook relieved pressure on the sector amid ongoing market concerns over artificial intelligence disruption. Investor sentiment rebounded as tech spending projections proved more resilient than feared.
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