Indian benchmark equity indices, Sensex and Nifty pared gains to end Wednesday's volatile session flat. However, gains in metals and auto stocks capped the decline.

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The Sensex ended 24.58 points or 0.07 percent lower at 37,663.33 while the Nifty gained 6.40 points or 0.06 percent to settle at 11,101.65.

The broader markets outperformed as the Nifty Midcap gained over 0.6 percent and the Nifty smallcap index ended over 1.2 percent higher.

Improved macro data from China led a rally in metal stocks resulting in Nifty Metal to end over 4 percent higher.

"The Nifty failed to close above 11,200 and hence the short term bearish trend continues. On the other hand, we did not break 11,000 either so we might be range bound for a couple of sessions. If we can break 11,000 we could see 10,700-10,800," said Manish Hathiramani, Index Trader and Technical Analyst, Deen Dayal Investments.

Index heavyweight Reliance Industries slipped 3 percent from day's highs to end 1 percent lower, dragging Nifty by 18 points.

Among sectors, Nifty Metals gained the most over 4 percent followed by Nifty Auto over 2 percent. Nifty Pharma and Nifty FMCG ended in the red.

Hindalco Industries, Tata Steel, Eicher Motors, Adani Ports & SEZ and Tata Motors were the top Nifty50 gainers while UPL, HDFC Life Insurance Company, PowerGrid Corporation, HDFC Bank and Wipro were the top index losers.

The share price of Axis Bank ended over 1 percent higher after the lender launched a qualified institutional placement (QIP) to raise Rs 10,000 crore.

Shares of Sun Pharma Advanced Research Company ended over 6 percent higher after the company reported healthy earnings for the quarter ended June 2020. The company posted a net profit of Rs 56.69 crore in Q1FY21 as against a loss of Rs 94.19 crore in the year-ago quarter. Revenue from operations during the quarter rose to Rs 185.45 crore from just Rs 17.32 crore, YoY.

First Published:Aug 5, 2020 3:36 PM IST