Nifty below 23,300; Sensex falls over 100 pts as bulls take a breather

Indian markets opened lower on Wednesday after a sharp two-day rally, with mixed sectoral trends. Nifty PSU Bank gained 1%, while IT and Pharma slipped. IREDA surged 6.5% on strong Q4 earnings. FPIs turned net buyers after nine sessions, investing Rs 6,066 crore. Retail inflation dropped to a 5-year low, boosting hopes of RBI rate cuts.