The Sensex ended the trading day lower by 607 points at 76,802 after tumbling over 900 points at one point. The Nifty reclaimed the 24,000 level at close. IT stocks stabilised after the massive Accenture-led selloff, however still ended the trading day lower. Infosys ended the trading day lower by 6.5 percent and TCS by 3.06 percent after their shares plummeted as much as 8.5 percent earlier in the trading day. The IT sector selloff took place after Accenture cut their full-year revenue growth forecast and as well as their estimates for the next quarter as well. This sparked uncertainty and sparked concerns about the AI impact on the IT services sector in particular. Investors reduced exposure to IT shares and Infosys and TCS stocks led the decline. Experts believe fears of weak spending and delayed projects also began surfacing and the negative sentiment hit the broader IT sector as well. The Nifty IT Index plunged nearly 6 percent after Accenture cut its revenue growth guidance and concerns of a weaker demand environment, and global technology spending dominated sentiment and ended the trading day lower by 3.65 percent. Pranjal Kamra, CEO , Finology.in told Timesnownews.com, "as part of investing discipline, we recommend our clients to stay away from industries that are undergoing structural shifts, we generally don’t like to be in the prediction game, where you’re always wondering what the future will look like. In these uncertainties around generative AI and its impact on labour intensive IT services, we would prefer being on the sidelines till we see what becomes of this." "Demand for large-scale reinvention remains strong-104 quarterly client bookings of 100 million dollars or more year-to-date, up 13 percent and we are seeing more large-scale AI transformation programmes while executing our strategy to capture new areas of growth," Accenture Chair and CEO Julie Sweet had earlier said. However the revenue growth forecast for the fourth quarter and the full year has sparked concerns globally. Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world. Sakshi Bajaj is a seasoned Associate Editor with over 15 years of experience in broadcast journalism. She has anchored, scripted, produced shows and w... View More