OREANDA-NEWS. March 19, 2015. Indian shares fell on Wednesday, dragged down by blue chips as caution prevailed ahead of the U.S. Federal Reserve's policy statement due later in the day that is expected to give direction on interest rates there.

Overall sentiment was weak as the Fed is expected to lay the groundwork for its first interest rate hike in nearly a decade.

Technology shares were down on concern that cross currency movement will way on their Jan-March revenue.

The benchmark BSE index closed down 0.4 percent at 28,622.12, while the broader NSE index ended down 0.43 percent at 8,685.90.

Bharat Heavy Electricals Ltd fell 2.7 percent, while ITC Ltd declined 1 percent.