January 23, 2019 / 10:32 AM / 10 months ago

Indian shares fall sharply as ITC drags

* NSE falls 0.84 pct, BSE 0.92 pct lower

* ITC biggest loser on both indexes

Jan 23 (Reuters) - Indian shares closed lower on Wednesday, dragged by a sharp fall in ITC Ltd after the cigarette-maker reported quarterly results, while IT and financial stocks also contributed to the losses.

The broader NSE index ended down 0.84 percent at 10,831.5, while the benchmark BSE index ended 0.92 percent weaker at 36,108.47.

Shares of ITC slumped 4.3 percent to their worst close since Dec. 26, despite beating analysts’ estimates for third-quarter profit.

HDFC Bank Ltd’s stock dropped 1.4 percent while that of IT giant Infosys Ltd declined 1.8 percent.

For the mid-day report, click (Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich)

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