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Benchmarks end flat in choppy trade amid profit booking in banking, finance stocks

Mumbai: Equity benchmarks recouped intra-day losses to end on a flat note on Wednesday as profit booking in banking and finance counters offset robust demand for metal and energy stocks.

Midcap and smallcap stocks saw heavy selling following BSE's new surveillance measure for the segment. However, the counters stabilised after the exchange clarified the additional price limits would be applicable only to certain stocks having market capitalisation of less than Rs 1,000 crore.

Snapping its two-session rising streak, the 30-share BSE Sensex ended 28.73 points or 0.05 per cent lower at 54,525.93. The broader NSE Nifty inched up 2.15 points or 0.01 per cent to 16,282.25.

Tata Steel was the top gainer in the Sensex pack, jumping 3.86 per cent, followed by NTPC, PowerGrid, Reliance Industries, Bajaj Finserv and IndusInd Bank.

On the other hand, Bajaj Auto, Sun Pharma, Kotak Bank, ICICI Bank, M&M, Nestle India and HDFC Bank were among the laggards, shedding up to 1.84 per cent.

Sectorally, BSE metal, power, energy, oil and gas, basic materials and utilities indices rose as much as 3.15 per cent, while healthcare, bankex, auto and telecom closed lower. Broader BSE midcap and smallcap indices lost up to 0.83 per cent. The Indian rupee settled just 1 paisa lower at 74.44 against the US dollar on Wednesday amid a strong greenback overseas.

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