Reuters Market Eye - The BSE Sensex fell 1.2 percent on Wednesday, on profit-taking after rising to its highest since November 2010 earlier in the week.
Asian stocks also fell, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.6 percent on fears of tighter policy in China.
Shares of Wipro Ltd fell 4.5 percent after the company's July-September revenue in dollar terms grew 2.7 percent sequentially, lagging other major IT services exporters, dealers say.
Other IT stocks also dropped on profit-taking: Tata Consultancy Services Ltd was down 1.88 percent, while Infosys Ltd was lower 1.2 percent and HCL Technologies Ltd fells 1.3 percent.
The NSE index for IT shares is up 45.4 percent in 2013 compared with the Nifty's returns of 4.6 percent, as of Tuesday's close.
Among blue-chip shares, Tata Motors Ltd fells 2.76 percent after marking its record high last week.
(Reporting by Abhishek Vishnoi)