Indian IT Stocks Rise on Accenture Outlook

Indian IT stocks gained on Monday after global technology services firm Accenture forecast stronger-than-expected annual revenue growth. The Nifty IT Index initially rose around 1.6%, boosting investor sentiment and easing concerns that artificial intelligence could weaken technology spending.

Persistent Systems, Mphasis, Wipro and Tata Consultancy Services were among the leading gainers, rising 3.1%, 1.1%, 2.1% and 2.1%, respectively. Analysts said stronger deal bookings and improved conversion of deals into revenue point to healthier enterprise technology demand.

While AI-driven automation remains a concern for India’s labour-intensive IT industry, analysts increasingly see large-scale AI adoption as a new growth opportunity. Despite Monday’s gains, the Nifty IT Index remains down around 24.5% so far this year.

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