[DEVELOPING] IT-services shares slide Oct 27: Nifty IT -1.5% after Anthropic filing; Accenture down 4.4%
Business Today reported that all 10 Nifty IT stocks traded lower on Oct 27, with Infosys leading the declines after at least four brokerage downgrades in a day. It attributed the move to Anthropic's IPO filing and Meta's $95B raise, saying hopes of a 'reverse AI' trade 'may be premature'. TradingKey reported that Accenture fell 4.41% the same day, attributing the drop to profit-taking after a multi-week rally, earlier valuation downgrades, insider Form 4 sales and worries that AI efficiency could cut billable consulting hours. Next to watch: whether the weakness persists beyond a single session after the sector's October rally.