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  Sensex falls for second day, consolidating after record high REUTERS   
  Indian shares fell for a second consecutive day on Wednesday, retreating further from a record high, as recent outperformers such as ICICI Bank continued to be hit by profit-taking.

Whether a recent rally that pushed the benchmark BSE index to a record high on Sunday can be sustained will depend on foreign investors who have been buyers for 22 consecutive sessions as of Tuesday.

Overseas funds have bought nearly $4 billion since the Federal Reserve delayed in mid-September a tapering of monetary stimulus, propelling most emerging share markets including India.

"Index stocks are a bit overbought so there will be some profit-booking in them and we could see some stock rotation from the index heavy weights to some mid-cap stocks," said Deven Choksey, managing director at K. R. Choksey Securities.

"I think FII flows will be slightly muted in the near term as the rupee is showing some signs of depreciation and there are chances of a further fall of about 2-3 percent, so FIIs may not want to enter very aggressively at this point," he added.

The benchmark BSE index closed down 0.38 percent at 20,894.94, retreating further from a record high of 21,321.53 hit in a special trading session on Sunday.

The broader NSE index closed down 0.61 percent at 6,215.15.

Banking sector led the losses with the Bank Nifty falling 1.8 percent, a third consecutive daily fall after rallying for five consecutive weeks as of Nov. 1.

ICICI Bank shares fell 1.4 percent. State Bank of India slipped 3.54 percent ahead of its results next week which will set the tone for other state-run banks. Punjab National Bank declined 3.92 percent while Bank of Baroda dropped 3.1 percent.

Profit-taking also hit shares in the metals space. Hindalco Industries Ltd ended down 2.1 percent, while Tata Steel Ltd fell 1.7 percent, with both stocks having risen for the last six trading sessions.

IRB Infrastructure Developers Ltd, which gained on Tuesday after Bank of America-Merrill Lynch reinitiated its coverage of the company, closed down 6.8 percent.

Bharat Heavy Electricals Ltd closed 1.3 percent lower after the company reported a worse-than-expected 64 percent fall in quarterly net profit, the fifth straight drop.

However, the CNX-IT index gained 1.4 percent after U.S.-based Cognizant Technology Solutions Corp reported a better-than-expected 22 percent rise in revenue on Tuesday.

Infosys Ltd rose 1.23 percent, Wipro Ltd gained 0.5 percent, while Tata Consultancy Services Ltd ended 2.4 percent higher.

Index Watch BSESX | NSEIX 
 International Markets - Oct 28
 NASDAQ 2604.04 -53.39
 DJIA 11504.62 -72.43
 Index - Apr 16, 3:30 PM
  Current Change
  NIFTY 6674.10 59.00
  SENSEX 22254.72 230.21
  Top Movers
 
 BSE - Apr 16, 3:22 PM A  B1  B2  
 Company Name
 Current 
 Change % 
 Gujarat Gas Com
406.60
13.77
 Procter & Gambl
3400.05
5.92
 Esab India Ltd.
484.95
5.22
 Bombay Dyeing &
64.05
2.40
 A B B Ltd.
833.05
2.33
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 NSE - Apr 16, 3:29 PM
 Company Name
 Current 
 Change % 
 Sundaram Clayto
719.10
20.00
 Panacea Biotec
154.85
19.99
 Vimta Laborator
80.75
19.99
 Gujarat Gas Com
409.00
14.09
 Swaraj Mazda Lt
348.00
12.58
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 Worst Shakers
 BSE - Apr 16, 3:22 PM A  B1  B2  
 Company Name  Current   Change % 
 India Cement Lt
67.00
9.34
 Bpl Ltd.
14.45
5.86
 N I I T Ltd.
30.40
5.00
 Mahanagar Telep
16.15
4.72
 Century Textile
361.00
4.28
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 Worst Shakers
 NSE - Apr 16, 2:58 PM
 Company Name
 Current 
 Change % 
 Salora Internat
19.55
59.52
 Celestial Labs
17.70
12.81
 Zylog Systems L
14.50
11.31
 Plethico Pharma
42.20
9.93
 Mukand Ltd.
29.55
9.91
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 Top Volume
 BSE - Apr 16, 2:58 PM  A  B1  B2  
 Code 
 Current 
 Volume 
 Unitech Ltd.
15.50
6439897
 Adani Enterpris
431.10
4849263
 Housing Develop
70.65
3436144
 Suzlon Energy L
13.08
2826822
 Adani Power Ltd
51.45
2706524
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 Top Volume
 NSE - Apr 16, 2:58 PM
 Code
 Current 
 Change 
 Unitech Ltd.
15.85
55585869
 Jaiprakash Asso
54.25
32434221
 Adani Enterpris
429.60
27177202
 Housing Develop
70.60
23925339
 Adani Power Ltd
51.60
20528111
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