The BSE Sensex declines by 0.3 per cent and the broader Nifty fell by 0.4 per cent, retreating further from record highs hit on Tuesday.
Investors continue to take profit in recent outperformers: Axis Bankfalls by 1.7 per cent, after gaining 9.4 per cent this month as of Tuesday's close. Larsen & Toubro falls by 1.5 per cent, after surging 12.3 per cent during the same period.
A fall in Asian shares also impacting sentiment, after investors were jolted when Federal Reserve Chair, Janet Yellen said 'the US Central Bank might end its bond-buying programme this fall, and could start to raise interest rates around six months later.'
Any signs of higher US interest rates could impact foreign investor sentiment in India. Overseas funds bought Indian shares worth 10.7 billion rupees on Wednesday, to mark their 22nd buying session in the previous 23.
