Sensex falls; IT stocks down, oil retailers up

Reuters Market Eye - Indian markets fell for the second day with the BSE Sensex down 0.3 percent and the 50-share Nifty losing 0.27 percent.

Infosys Ltd falls 1.8 percent, extending falls after plunging 21.3 percent on Friday after it issued lower-than-expected revenue guidance.

Among other IT stocks, Tata Consultancy Services Ltd drops down 1.1 percent after falling 1.6 percent on Friday.

Lower shares track Asian stocks, which are falling on Monday after weaker-than-expected U.S. and Chinese data raised concerns about the global economic outlook.

However, Indian oil marketing companies such as Hindustan Petroleum Corpor Ltd are gaining on hopes a slump in crude prices would lower the cost of under-recoveries.

 

Hindustan Petroleum Corp gains 3.9 percent, Bharat Petroleum Corp Ltd is up 4.3 percent, while Indian Oil Corp Ltd rises 3.8 percent.

Traders are now monitoring India's March WPI-based inflation data due around 11.30 a.m. A Reuters poll expects a 6.4 percent rise.

(Reporting by Abhishek Vishnoi)