INDIA STOCKS-India's benchmarks inch lower on sell-off in IT stocks

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INDIA STOCKS-India's benchmarks inch lower on sell-off in IT stocks

, Reuters - 11:57 PM ET 3/20/2025 US Markets

(Updates for market open)

March 21 (Reuters) - India's benchmark indexes inched lower at the open on Friday, weighed down by losses in IT stocks as Accenture ( ACN ) warned of constrained discretionary spending in the United States.

The NSE Nifty 50 was down 0.1% at 23,168.25, while the BSE Sensex lost 0.25% to 76,155.00, as of 9:15 a.m. IST.

IT stocks, which derive a significant chunk of revenue from the U.S., dropped 2%, with Tata Consultancy Services, Wipro, HCL Technologies, and Infosys falling 1.5% to 2.5%.

Global IT consultancy firm Accenture ( ACN ) on Thursday

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curtailed discretionary spending in the United States due to elevated macroeconomic uncertainties.

Barring IT, the other 12 major sector were higher at the open. (Reporting by Bharath Rajeswaran and Vivek Kumar in Bengaluru; Editing by Varun H K and Sonia Cheema)

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