(Reuters) - Indian shares fell more than 1 percent on Wednesday, posting their worst fall in more than six weeks, as investors weighed whether a recent rally in equities may have been overdone, with drug maker Lupin Ltd down on concerns over its earnings outlook.
The broader NSE Nifty <.NSEI> closed down 1.19 percent at 8,575.30. It dropped as much as 1.3 percent earlier in the day and posted its worst fall since June 24.
The benchmark BSE Sensex <.BSESN> ended 1.1 percent lower at 27,774.88, its worst single-day decline since June 24.
It fell as much as 1.24 percent earlier in the session.
Lupin, India's third-largest drugmaker, fell about 4 percent due to worries about its profit margins in the June-quarter and concerns about its outlook, especially in the United States.
(Reporting by Aastha Agnihotri in Bengaluru; Editing by Biju Dwarakanath)
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