Indian shares shed early gains to settle lower in volatile trade on Wednesday as investors adopted a cautious stance ahead of the expiry of futures and options (F&O) contracts.
"This is an artificial volatility caused ahead of the roll- over of contracts. We will get through this problem once the contract is over," said Deven Choksey, founder, KR Choksey Investment Managers.
The benchmark BSE Sensex closed 0.26 percent lower at 38,132.88.
The broader NSE Nifty ended 0.33 percent weaker at 11,445.05.
Reliance Industries Ltd and Housing Development Finance Corporation drove losses.