Sensex down 0.2 pct, Tata Consultancy falls

MUMBAI (Reuters) - Indian shares fell 0.2 percent on Tuesday, led lower by software services exporters that were hit by disappointing earnings from Tata Consultancy Services Ltd.

Weak Asian bourses also weighed on the market that had gained 13 percent from around mid-March.

Tata Consultancy, India's top software services exporter, fell as much as 8 percent to a low of 912.35 rupees after its March quarter earnings missed market forecasts, as a slowing U.S. economy hurt outsourcing contracts.

No. 2 Infosys Technologies was down 2.8 percent at 1,599 rupees, while smaller rival Satyam Computer Services Ltd fell 4.3 percent to 439.45 rupees.

The technology sector index fell 3.6 percent.

Indian software exporters get a bulk of their revenue from banks and financial firms, sectors which have been battered by the turmoil in global financial markets.

By 10:27 a.m., the benchmark BSE 30-share index was down 0.18 percent, or 30.56 points, at 16,708.77, with 13 components in the red. The index is more than 17 percent down so far this year.

"Corporate earnings are not that encouraging right now," said Daljeet Kohli, head of research at Emkay Share & Stock Brokers Ltd.

"A clear trend will emerge only after the mid and small cap companies earnings come in," he said, adding the central bank's