Sensex closes nearly 1% lower as ITC drags

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 Nifty ended down 0.84 percent at 10,831.5, while the benchmark Sensex 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.