Indian equity benchmarks recovered a majority of their intraday losses in a choppy session on Wednesday, helped by strength in IT, healthcare and FMCG stocks though weakness in auto and financial shares played spoilsport. Globally, investors awaited the release of the Fed's Beige Book — which summarises the state of the world's largest economy — due later in the day.

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NSE

The Sensex settled 168.1 points or 0.3 percent lower for the day at 59,028.9, having bounced back 306 points from the lowest level of the session.

The Nifty50 finished at 17,624, after broadly moving within the 17,450-17,650 band in intraday trade.

A total of 25 stocks in the Nifty50 basket succumbed to negative territory at the close. Tata Motors, Bajaj Auto, IndusInd Bank, Mahindra & Mahindra and Maruti Suzuki were the top laggards.

Bharti Airtel, SBI, Apollo Hospitals, Tata Steel and HDFC — falling around one percent each — were also among the worst-hit blue-chip stocks.

On the other hand, Shree Cement, UltraTech, Adani Ports, Coal India and Grasim were the top gainers.

Britannia, SBI Life, Bharat Petroleum, Cipla and TCS — rising around 1-2 percent each — were some of the other top gainers.

All sectoral gauges were in the red on NSE, with the Nifty IT being the worst hit.

Overall market breadth was in favour of the bulls, as 2,133 stocks rose and 1,322 fell on BSE.

Meanwhile, the rupee edged lower to settle at 79.90 against the US dollar.

Global markets

European markets began the day in the red, dragged by mining and energy stocks, as investors fretted over demand outlook following lacklustre trade data from China. The pan-European Stoxx 600 index was down half a percent at the last count.

S&P 500 futures were up 0.2 percent, suggesting a positive opening ahead on Wall Street.

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