Markets snap four-day long rally ahead of GDP data; aviation stocks rise

Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%

The benchmark indices snapped four-session long gaining streak to end lower on Wednesday after hitting record highs in intraday trade ahead of the gross domestic product (GDP) data for the March quarter due later in the day.

The GDP growth is expected to come in at 7.1% for the January-March quarter, according to economists polled by Reuters.

The S&P BSE Sensex ended at 31,145, down 13 points, while the broader Nifty50 closed at 9,621, down 3 points. 

In intraday trade, the 30-share Sensex rose 96 points to touch its fresh high of 31,255, while the 50-share Nifty added 25 points