Sensex falls IT hit by global econ fears

SENSEX-NIFTY-TCS-INFOSYS-RIL:Sensex falls IT hit by global econ fears

Reuters Market Eye - The Sensex and the Nifty falls around 0.5 percent, heading to their first decline in five sessions. Global risk assets hit as Fed Chairman Ben Bernanke comments dim hopes for more U.S. stimulus, while a surprise rate cut from China raise fears of a potentially weak batch of key Chinese data on Saturday.

Falls are led by declines in software services exporters on growing concerns a weaker global economy would hit IT spending. Infosys falls 1.5 percent, while Tata Consultancy Services declines 1 percent.

Reliance Industries falls 1 percent as no positive surprises came from its annual shareholders meeting on Thursday.