/images/ppid_59c68470-image-177091512468282453.webp)
/images/ppid_a911dc6a-image-177091324558616814.webp)
/images/ppid_59c68470-image-177091257464815739.webp)
/images/ppid_59c68470-image-177091269493773726.webp)
What is the story about?
Infosys
’ American Depository Receipts (ADRs) were trading over 4% lower, extending the recent sell-off, while peer Wipro Ltd also declined about 3.35% in US trade amid intensifying concerns over artificial intelligence-led disruption to traditional outsourcing models.
The weakness mirrored a broader global technology rout as investors reassessed demand visibility for legacy software services. Advances in AI automation tools have heightened worries that enterprises may recalibrate spending away from conventional outsourcing contracts.
A similar sector-wide pressure was visible in global peers too with Accenture and Cognizant dropping between 4% and 10. US technology heavyweights were mixed.
Apple Inc. and Amazon.com Inc. were lower between 3 and 4%, while Cisco Systems slumped nearly 11% after issuing disappointing quarterly guidance.
In contrast, industrial major Siemens AG surged 7.1% after raising its fiscal 2026 basic earnings per share outlook to €10.7–€11, up from an earlier €10.4–€11 range.
Chief Executive Roland Busch told CNBC that AI-driven gains in industrial manufacturing, product design and operations could materialise faster than anticipated, underscoring optimism around real-world AI deployment.
Broader US indices, however, traded with modest gains. The Dow Jones Industrial Average advanced about 230 points, or 0.5%, as investors rotated into economically sensitive stocks. The S&P 500 rose 0.2%, while the Nasdaq Composite slipped around 0.2%.
Softer US retail data and lingering uncertainty around labour market trends have further clouded the outlook for enterprise technology spending, keeping pressure on IT services counters.
The weakness mirrored a broader global technology rout as investors reassessed demand visibility for legacy software services. Advances in AI automation tools have heightened worries that enterprises may recalibrate spending away from conventional outsourcing contracts.
A similar sector-wide pressure was visible in global peers too with Accenture and Cognizant dropping between 4% and 10. US technology heavyweights were mixed.
Apple Inc. and Amazon.com Inc. were lower between 3 and 4%, while Cisco Systems slumped nearly 11% after issuing disappointing quarterly guidance.
In contrast, industrial major Siemens AG surged 7.1% after raising its fiscal 2026 basic earnings per share outlook to €10.7–€11, up from an earlier €10.4–€11 range.
Chief Executive Roland Busch told CNBC that AI-driven gains in industrial manufacturing, product design and operations could materialise faster than anticipated, underscoring optimism around real-world AI deployment.
Broader US indices, however, traded with modest gains. The Dow Jones Industrial Average advanced about 230 points, or 0.5%, as investors rotated into economically sensitive stocks. The S&P 500 rose 0.2%, while the Nasdaq Composite slipped around 0.2%.
Softer US retail data and lingering uncertainty around labour market trends have further clouded the outlook for enterprise technology spending, keeping pressure on IT services counters.
/images/ppid_59c68470-image-177091507434334309.webp)
