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​The Indian rupee ended lower on Wednesday, pressured by likely equity outflows and as the U.S. dollar index rose to a more than one-month high on the back of moderation in U.S. rate cut expectations.

On Tuesday, Federal Bank reported its highest-ever standalone net profit at Rs 1,007 crore for the quarter ended December, up 25% from Rs 804 crore reported in the year-ago period. Sequentially it was up 5.5% versus Rs 954 crore reported in Q2FY24.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness.

LTIMindtree Q3 Results: Revenue from operations in the same period increased 5% to Rs 9,017 crore as against Rs 8,620 crore in the December quarter of last year. EBIT for the third quarter jumped 16% year-on-year to Rs 1,386 crore as against Rs 1,197 crore reported in the same quarter of last year. EBIT margins also improved to 15.4% in the reporting quarter.

​The Nifty Bank fell over 2,000 points on Wednesday to record its worst single-day fall since May 2020 weighed down by losses in HDFC Bank, Kotak Mahindra Bank as well as ICICI Bank.