Reuters Market Eye - The BSE Sensex is down 0.1 percent, while the Nifty is nearly flat on profit-taking after hitting record highs on Tuesday on exit polls that showed the Bharatiya Janata Party and its allies winning a majority in the elections.
The Nifty has gained more than 20 percent since Sept. 13 when Narendra Modi was named as BJP's prime ministerial candidate.
Oil and Natural Gas Corp Ltd falls 1.02 percent, while Maruti Suzuki India Ltd is down 0.55 percent.
Shares also showing signs of being technically overbought as the Nifty trades above all short and long-term price averages, Bollinger bands and their relative strength index is above 75 level.
(Reporting by Aabhishek Vishnoi)
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