Sensex ends more than 1 percent lower; IT slumps

REUTERS - The BSE Sensex fell more than 1 percent on Tuesday as software services exporters were hit hard after Cognizant Technology Solutions issued disappointing revenue guidance, while sentiment also remained weak after a global market sell-off.

The broader Nifty fell 1.21 percent, while the benchmark Sensex lost 1.1 percent, posting a second consecutive daily fall.

Infosys Technologies ended 3.75 percent lower while Tata Consultancy fell 3.45 percent after Cognizant said it expects the slowest revenue growth in 14 years for 2016.

A sell-off on Monday that sent European shares to their lowest in more than two years and U.S. indexes down more than 1 percent also hit sentiment.

 

(Reporting By Manoj Rawal; Editing by Biju Dwarakanath)