Indian shares ended 0.8 percent lower on Wednesday, falling for three sessions out of four, as worries over quarterly earnings and foreign investor participation more than offset firm global equities.
Shares in Wipro, India's No 3 software services exporter, fell nearly 5 percent after the company said margins in this quarter would remain under pressure and revenue growth may lag industry rates in the financial year ending March.
The stock ended down 3.9 percent at 398.95 rupees. Concerns about uncertain outlook for the sector also dragged down shares in Wipro's larger rival Tata Consultancy Services, which ended down 0.67 percent.
The 30-share BSE index ended down 0.81 percent, or 151.49 points, at 18,502.38 points, with only four of its components ending higher. The 50-share NSE Nifty index ended down 0.83 percent at 5,567.05 points.
In the broader market, a total of 952 declines outpaced 476 advances on strong volume of 623 million shares.
Foreign funds have bought beaten-down Indian shares worth about $2.7 billion over the past three weeks, data showed. The main index has fallen nearly 10 percent so far this year after a spate of rate increases to fight stubbornly high inflation dented growth in Asia's third-largest economy. In comparison, the MSCI's measure of Asian markets other than Japan has remained almost flat.
Crompton Greaves, a power equipment and electrical appliances maker, plunged nearly 30 percent in the last two sessions after its June quarter net profit more than halved.
Its chief executive also said the firm was seeing a delay in new orders in the domestic market due to a slowdown in project finalisation by customers. Investors are also cautious ahead of the central bank's policy review on July 26 where it is widely expected to raise its key rate by 25 basis point, its 11th move since March 2010.
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