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Accenture results has reduced the probability of negative surprises for Indian IT firms, according to Morgan Stanley.
NSE's Nifty IT index edged down 0.2 per cent after rising as much as 0.5 per cent earlier in the session; it was on track to post a sixth straight session of losses.
Infosys Ltd rose as much as 0.7 per cent after dropping in the last two sessions. Tata Consultancy Services Ltd and HCL Technologies Ltd fell nearly 0.7 per cent after early gains.
US outsourcing giant Accenture Plc had posted better-than-expected revenue for the quarter ended August 31 on Thursday and their forecast for fiscal 2018 growth was in line with analyst expectations.
However, Wipro Ltd's healthcare and energy businesses face challenging market conditions and this could be a drag on the stock, Morgan Stanley said.
Meanwhile, Nomura said Accenture outlook did not suggest acceleration next year.
Up to Thursday's close, the IT index had risen about 1.1 per cent this year, while the broader NSE index gained nearly 20 per cent.
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