Sensex, Nifty fall in early trade after three-day rally as IT stocks drag markets lower

Benchmark indices Sensex and Nifty declined in early trade after a three-day rally, dragged by heavy selling in IT stocks. Foreign fund outflows and fears of West Asia instability weighed on sentiment. HCL Tech tumbled nearly 9 per cent after its March quarter earnings failed to impress investors. The 30-share BSE Sensex declined and the 50-share NSE Nifty dropped, with Tech Mahindra, Infosys, and Tata Consultancy Services also among the major laggards.