After Accenture raised its full-year sales guidance to 5-7% on the AI boom, Infosys and Wipro ADRs fell more than 3% on the NYSE.

After Accenture revealed its second-quarter earnings results and raised its full-year revenue guidance to a range of 5-7 percent, higher than market estimates, American Depository Receipt (ADR) shares of India's top IT behemoths, Infosys and Wipro, saw a steep drop on the New York Stock Exchange (NYSE).

Similar to common shares of US firms, American Depositary Receipts, or ADRs, are a vehicle that allows foreign companies or organizations to trade on US stock markets. Theoretically, an ADR is comparable to a special certificate that a US bank issues.