MARKET EYE-Indian shares fall; fears of 'US cliff' hit IT sector

MUMBAI, Nov 15 (Reuters) - * India's BSE Index
falls 0.67 percent, while the 50 share NSE Index falls
0.66 percent, resuming trade after a shortened Diwali session on
Tuesday.
* Falls track lower Asian shares at the prospect of drawn-out
negotiations over the looming U.S. "fiscal cliff" and rising
tensions in the Middle East after Israel launched an offensive
against Palestinian militants in Gaza.
* Data on Wednesday showed India's headline inflation in October
rose 7.45 percent, unexpectedly eased to its slowest pace in
eight months, but still high enough to be a headache for
policymakers struggling to balance the need for growth with
taming prices.
* Software services exporters with significant business in the
United States are among the leading decliners: Infosys Ltd
down 2.2 percent, Tata Consultancy Services Ltd
down 1.7 percent.
* However, among gainers, Larsen & Toubro Ltd shares
gain 0.6 percent on bargain hunting after falling 1.2 percent so
far this month as of Tuesday's close, under-performing a 0.8
percent gain during the same period.

(Reporting by Rafael Nam)