The benchmark indices ended on a flat note with negative bias for the second straight session on Thursday amid selling in financial and pharma counters. The S&P BSE Sensex ended at 38,310 levels, down 59 points or 0.15 per cent while NSE's Nifty ended at 11,300, down 0.07 per cent.
The broader market, however, outperformed the benchmark indices. The S&P BSE MidCap index ended 1.6 per cent higher at 14,583 levels while the S&P BSE SmallCap index settled at 13,940, up 0.76 per cent.
Among Sensex constituents, Bharti Airtel (down over 2 per cent) ended as the biggest loser on the index after reports said that MSCI reduced the weight of the stock in its MSCI India and MSCI EM indices by half. The reports, however, further said MSCI reduced the weight of the stock on wrong market data.
Larsen & Toubro (up over 4 per cent), on the other hand, emerged as the top gainer on the index.
Among sectoral indices on the NSE, Nifty PSU Bank index fell the most - down 1 per cent, followed by Nifty Pharma (down 0.97 per cent), and Nifty Bank (down 0.3 per cent). On the other hand, Nifty Auto surged 1.22 per cent to 7,879.75 levels while Nifty Metal index gained over 1 per cent to 2,380.65 points.
Buzzing stocks Shares of Tata Consumer Products rallied nearly 5 per cent to hit a fresh record high of Rs 542.90 apiece on the BSE. With today's rally, the company surpassed the fast-moving consumer goods (FMCG) major Marico in terms of market capitalisation (m-cap).
READ MORE Shares of Ashok Leyland ended over 13 per cent higher at Rs 61 on the BSE after the company said it expects Q3 and Q4 of financial year 2020-21 (FY21) to be better than the previous quarters while margins are also expected to rise going ahead.
Shares of Aurobindo Pharma dipped 5.64 per cent to Rs 881.30 on the BSE despite the company reporting a 22.81 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market.
READ MORE Global markets Japanese stocks soared to a six-month peak and the dollar was under pressure on Thursday as investors picked positives out of recent economic data and bet on China and the United States sticking with their trade deal at a crucial weekend meeting.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent, while gains in semiconductor makers drove Japan's Nikkei 1.8 per cent higher to a six-month peak.
Euro STOXX 50 futures were last down 0.1 per cent, FTSE futures slipped 0.7 per cent and S&P 500 futures ESc1 were down 0.1 per cent.
In the commodity market, crude oil prices fell after OPEC said it expected demand to drop more than expected, although data showing a decline in US inventories lent support.
 "Benchmarks settle flat, Nifty ends at 11,300; Bharti Airtel slips over 2%")
