Indian benchmark indices, Sensex and Nifty snapped five-day gaining streak to end Wednesday's volatile session lower amid cautiousness over a surge in coronavirus infection cases.

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The Sensex ended 345.51 points or 0.94 percent lower at 36,329.01 while the Nifty lost 93.90 points or 0.87 percent to settle at 10,705.75.

Losses in IT and auto stocks offset gains in metals and private-sector lenders. Index heavyweights such as RIL, Infosys, TCS, ICICI Bank dragged Nifty near day's low while gains in HDFC Bank, HUL and ITC supported the index to end above 10,700 level.

Broader markets, Nifty Midcap and Nifty Smallcap indices also ended 0.39 and 0.24 percent lower, respectively.

Selling was witnessed in Nifty Auto, Nifty IT, Nifty Realty and Nifty Private Bank while Nifty PSU Bank, Nifty Metals, Nifty FMCG and Nifty Pharma ended in the green.

Bajaj Finance, ZEEL, Asian Paints, Tata Motors and HCL Technologies led the decline among Nifty50 constituents while IndusInd Bank, Vedanta, JSW Steel, Hindalco and Dr Reddy's Labs were the top index gainers.

"The market touched a low of 10,676 which is around the lower end of the range of 10,650 but ended up closing above 10,700. If we break 10,650, we could slide another 100 points to test 10,500-10,550. On the upside, we will not resume the uptrend unless we cross 10,850," said Manish Hathiramani, Index Trader and Technical Analyst, Deen Dayal Investments.

Shares of Yes Bank ended over 1.3 percent higher after it announced to raise funds via follow on public offer or Further Public Offering (FPO) without disclosing the amount. During the day, the stock price surged over 5 percent on the NSE.

First Published:Jul 8, 2020 3:36 PM IST