Sensex, Nifty snap two-day rally to close flat

Indian equity markets closed almost flat on Wednesday, snapping a two-day rally, as a sharp fall in information technology (IT) stocks weighed on the benchmark indices.

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Investor sentiment turned cautious after fresh concerns about advances in artificial intelligence (AI) hit global software stocks.

At the closing bell, the Nifty rose 48.45 points, or 0.19 per cent, to settle at 25,776.00. The Sensex gained 78.56 points, or 0.09 per cent, to end at 83,817.69.

Nifty traded in a tight range today, broadly between 25,680 and 25,820, indicating continued consolidation, according to experts.

The biggest drag on the market was the Nifty IT index, which plunged 6 per cent.