Indian shares lower

Indian shares shed early gains to end lower on Wednesday, pulled down by financial and auto stocks, after the central bank raised interest rates for the second straight meeting. The RBI's Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50 percent. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings.
The reverse repo rate was also raised by 25 basis points to 6.25 percent. The benchmark BSE index snapped an eight-session winning streak to end 0.23 percent lower at 37,521.62.