Indian shares closed lower on Wednesday, dragged by a sharp fall in ITC Ltd after the cigarette-maker reported quarterly results, while IT and financial stocks also contributed to the losses. The broader NSE index ended down 0.84 percent at 10,831.5, while the benchmark BSE index ended 0.92 percent weaker at 36,108.47. Shares of ITC slumped 4.3 percent to their worst close since December 26, despite beating analysts' estimates for third-quarter profit.

HDFC Bank Ltd's stock dropped 1.4 percent while that of IT giant Infosys Ltd declined 1.8 percent. IT giants Infosys Ltd and Tata Consultancy Services Ltd fell over 1 percent each, as the Indian rupee strengthened against the dollar. Rival Wipro Ltd, however, rose 2 percent to its highest in nearly 19 years. Private-sector lender Kotak Mahindra Bank Ltd fell 1.5 percent after four straight sessions of gains, and was among the biggest drags on the NSE index.

Ahead of their quarterly results, ITC Ltd and telecom tower company Bharti Infratel Ltd edged up, while Interglobe Aviation Ltd, which operates budget airline IndiGo, fell 2.2 percent.

Copyright Reuters, 2019