BSE Sensex edges lower; banking stocks, Infosys drag

Reuters Market Eye - The BSE Sensex and the Nifty fall around 0.5 percent each, as investors book profits after a strong three-day rally.

Lenders, which were among the biggest recent gainers, retreat. ICICI Bank falls 2 percent while HDFC Bank is down 1 percent. The Bank Nifty rose 6.3 percent in the previous three sessions compared with a 3.6 percent grain in the Nifty in the same period.

Infosys falls 1 percent after hitting its highest level in nearly three years on Tuesday.

Also weighing on sentiment, foreign institutional investors sold 6.68 billion rupees worth of Indian equity derivatives on Tuesday, as per the National Stock Exchange's data.

(Reporting by Abhishek Vishnoi)