Indian equities trended lower on Wednesday, October 19 after a rally the day before. Investors opted to take profit, with banking names standing out among the worst performers.Investors still await a number of corporate earnings reports due out later this week, as well as the government’s decision on new VAT rates for various industries.By the close, the Nifty 50 dipped 0.22% to 8,659.10 and the BSE Sensex was down 0.24% at 27,984.37.By 10:54 GMT, the USD/INR pair fell 0.13% to 66.655, while EUR/INR ticked up 0.001% to 73.2700. The 10-year Indian government bond yield widened to 6.819%.On the downside, ICICI Bank and State Bank of India dropped 1.96% and 0.58%, respectively. Carmakers Tata Motors, Mahindra and Mahindra and Hero Motor retreated 0.77%, 0.41% and 1.39%, respectively.Logistics companies outperformed the broader market, with Gati, Allcargo Logistics and VRL Logistics surging 4.32%, 2.51% and 3.13%, respectively.In other regional news, Indian shipbuilder ABG Shipyard rocketed 19.37% on reports that the company is in talks with a Russian company regarding the sale of its controlling stake.From a technical standpoint, the BSE Sensex, has been trading within a downward band, approached the lower end, with slow stochastic lines heading north. If a breakout occurs, the benchmark may push towards the 28,500 resistance level.