Benchmark indices ended marginally lower on Wednesday in a highly volatile session as gains in banking and automobile shares were offset by losses in the IT sector.

At close, Sensex declined 0.1%, or 72.56 points, to settle at 74,029.76, while the Nifty slipped 0.12%, or 27.4 points, to 22,470.5.

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During the trading session, the Nifty reached a high of 22,577.4 and a low of 22,329.55 while the Sensex fluctuated within a range of 74,392.15 and 73,598.16.

The mid and small-cap segments underperformed the benchmarks with the BSE Midcap slipped 0.57%, while the Smallcap index ended 0.48% lower.

The overall market capitalisation of BSE-listed firms dropped below ₹393 lakh crore from over ₹394 lakh crore in the previous session.

On Nifty50, the top gainers were Indusind Bank (4.38%), Tata Motors (3.12%), Kotak Mahindra Bank (2.45%), Bajaj Finance (1.73%), and ITC (1.53%).

While on the losing side were Infosys (4.26%), Wipro (3.31%), Tech Mahindra (2.77%), Nestle India (2.48%), and Tata Consultancy Services (1.93%).

The Bank Nifty concluded at 47,853.95, with an intraday high of 48,222.15 and a low of 47,844.95.

After a 27% crash in the previous session, IndusInd Bank saw a 6% rebound as investors assessed the fallout from the bank’s derivatives portfolio discrepancies.

Among the sectors, Nifty IT index suffered a solid loss of 2.91%, with all stocks in the red. IT stocks have been under pressure amid growing concerns of a recession in the US market.

Infosys and Wipro led the sell-off amid growing fears that a slowdown in US client spending could impact revenue growth for Indian IT firms.

Nifty Realty, Media and PSU Bank lost 1.65%, 1.53% and 1.08%, respectively.

Shares of Tata Motors surged over 3% on March 12, emerging as one of the top Sensex gainers and providing a strong boost to the BSE Auto index.

Ola Electric shares rose 2% after the company announced the successful completion of its company-wide cost-reduction initiative.

PB Fintech, the parent company of Policybazaar, saw its stock tumble over 5% after announcing a Rs 696 crore investment in its subsidiary PB Healthcare Services.

On the global landscape, Asian markets mostly declined, as investors remained cautious over US President Trump’s trade policies and the risk of a US recession.

Global markets have been volatile with the US President putting pressure on trade partners with tariff barriers.