BSE index is down 0.11 percent, while the broader NSE index is 0.21 percent lower, after earlier marking their fourth consecutive record highs.
* The BSE rose as much as 0.27 percent to an all-time high of 22,939.31, while the NSE gained as much as 0.42 percent to a record high of 6,869.85.
* Oil and gas shares fall after Cairn India Ltd net profit lagged some analysts' estimates, especially after adjusted for other income. Cairn slumps 5 percent while Reliance Industries is down 1.1 percent.
* Cement makers also fall after their January-March earnings. ACC falls 2.8 percent while Ambuja Cements is down 2.7 percent.
* But lenders gain on expectations the worst may be over in terms of asset quality deterioration. ICICI Bank Ltd is up 1.1 percent while Axis Bank Ltd gains 0.8 percent ahead of their financial results later in the day.
* Overseas investors bought Indian shares worth 7.67 billion rupees on Wednesday, provisional exchange data shows.