Sensex flat; TCS, Wipro gain, M&M falls

Reuters Market Eye - The Sensex falls 0.3 percent and the Nifty is down 0.3 percent.

Cement companies fall after October-December earnings fail to impress market participants. ACC Ltd falls 2.12 percent and Ambuja Cement Ltd is down 4.8 percent.

Mahindra and Mahindra Ltd shares fall 1.2 percent after posting December quarter earnings.

However, Infosys Ltd rises 0.4 percent and Tata Consultancy Services Ltd is up 2.9 percent after Cognizant earnings.

The results confirm that revenues of Indian software services exporters continue to outperform Cognizant's, making the U.S.-listed IT company still not too much of a competitive threat.

(Reporting by Manoj Dharra)