BSE Sensex and NSE Nifty ended flat on Wednesday amid uncertainty surrounding the general election results and subdued corporate earnings.

Gains seen in the shares of select heavyweights such as Reliance Industries, Larsen & Toubro and Tata Motors were offset by losses in shares of HDFC Bank, ICICI Bank and Infosys.

Sensex was down 45 points or 0.1 per cent at 73,466.39, and the Nifty 50 was up 4.50 points at 22,307.

Further, around 1,946 shares advanced, 1,310 shares declined, and 106 shares remained unchanged.

On the other hand, broader markets showed resilience after sharply falling the day before. While BSE Smallcap rose 0.5 percent, BSE Midcap edged up by 0.8 per cent. Both the indices had fallen nearly 2 per cent each in the previous session.

In the Nifty 50 index, on the winning side were the shares of BPCL (2.78 per cent), Hero MotoCorp (2.49 per cent) and Tata Motors (2.48 per cent).

Further, the shares of Dr. Reddy’s Laboratories (3.27 per cent), Asian Paints (2.21 per cent) and Grasim Industries (2.07 per cent) closed as the top losers in the Nifty index.

In terms of the sectoral indices, the Nifty Bank fell 0.55 per cent while the Private Bank index suffered a loss of 0.81 per cent. The PSU Bank index, however, jumped 0.88 per cent.

Nifty Oil & Gas (1.70 per cent), Auto (1.56 per cent ) and Metal (1.48 per cent ) indices clocked significant gains.

Analysts are betting on FMCG and consumer durable stocks, anticipating a rural recovery driven by expectations of a robust monsoon season.

The sell-off in Paytm shares appears to be continuing as the stock hit a new all-time low of Rs 317.15 apiece in today’s session as it was locked in the 5 per cent lower circuit limit.

Aditya Birla Finance, a significant lending partner for the company, is reported to have exercised loan guarantees provided by the fintech firm.

Also, the foreign portfolio investors (FPIs) are selling Indian equities ahead of the election outcome, a trend seen in the past, too.

Investors traded cautiously due to a lack of fresh, positive triggers and ended on a flat note with a slightly negative bias amid selective profit-taking in banking and IT stocks.

European stocks rose, boosted by company earnings, while US futures were flat and the dollar climbed as investors assessed the signals on the path for Fed rates.

The yen fell even with the threat of currency intervention from Japanese authorities to support it. Oil prices wallowed near two-month lows.

Europe’s continent-wide Stoxx 600 index rose 0.32 per cent on Wednesday, supported by upbeat earnings reports, after rising 1.1 per cent the previous day. Germany’s DAX climbed 0.45 per cent and Britain’s FTSE 100 rose 0.35 per cent.