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Capital allocation has been concentrated in specific sectors, leaving many with limited funding. Fund managers currently favour sectors like PSU, industrials, and defence, while showing less enthusiasm for FMCG and auto.

Uncertainty around domestic election results and the timing of US rate cuts dampened investor sentiments. The broader Nifty dropped 183 points to end at 22,704. Meanwhile, investors lost Rs 1.83 lakh crore. Sector-wise, Nifty Financial Services fell 1.65%, while Nifty IT, Private Bank, and Oil & Gas declined by over 1%.

The Indian rupee logged its biggest daily decline against the U.S. dollar in nearly seven weeks on Wednesday, pressured by persistent dollar demand from importers and election-related risks.

​Drug firm Wockhardt on Tuesday reported a consolidated net loss of Rs 177 crore for the fourth quarter ended March 31, 2024. The company had reported a net loss of Rs 237 crore in the January-March quarter of 2022-23.

The euro dropped to as low as 84.48 pence, down 0.3%, at its lowest since August 2022, also trading lower against the dollar.

​And of course, this whole mobilising together of the Hindu, sort of the sentiment of the sense that historically they have been discriminated against. I would say, almost a sense of masculine inadequacy of a certain kind.

A total of 330,948 shares changed hands on the counter till 02:09PM (IST)

Indian shares traded lower on Wednesday, dragged by losses in heavyweight financials and IT stocks, while uncertainty around domestic election results and the timing of US rate cuts also weighed.

Prestige Estates Projects, a leading real estate developer, reported a 70% decline in net profit to Rs 140 crore for the quarter ending March 2024. Despite the decrease, the company saw growth in the 2023-24 fiscal year, with increased total income and net profit.