IT stocks India: Domestic technology stocks were reeling under pressure on Friday, September 29, after global IT services company Accenture reported weaker-than-expected numbers for the fourth quarter of fiscal 2023 (Q42Y23). Accenture's full-year (FY24) earnings and first-quarter (Q1 FY24) revenue forecasts, too, came below expectations, signalling that high inflation and interest rates would choke enterprise spending through next year.

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The Nifty IT index led losses with an over 1 per cent fall in early morning trade on Friday but eventually settled 0.3 per cent or 95.2 points lower at 31,784.4. Eight IT stocks in the information technology index declined on Friday while two stocks ended in green. Persistent Systems ended with gains of nearly a per cent, and Wipro edged higher, up 0.28 per cent. However, LTIMindtree was among the top Nifty IT losers down 1.14 per cent followed by L&T Technology which traded nearly 1 per cent lower. Moreover, Infosys, finished 0.68 per cent on the NSE. 

Here's how the Nifty IT traded on Friday:

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