Benchmark indices ended the day flat, as the dollar stabilized after the sharp appreciation of the last few days against a basket of currencies.
The Sensex ended the day lower by 5 points, while the Nifty gained 3 points in trade.
Auto and two-wheeler stocks also saw good buying support with stocks like Hero Motor Corp, Maruti Suzuki and Bajaj Auto among the gainers in trade. Among the non index stocks, shares in LT Foods rallied after the company announced a stock split from Rs 10 to Re 1 per share.
Shares in Tata Global Beverages also had a good session after the company's Q2 consolidated net profit was higher by 48.1 percent at Rs 108.1 crore. The stock ended the day higher by 4 per cent.
The midcap space which was badly battered on Tuesday, managed to hold some ground. Among the winners were Amara Raja Batteries which surged 7 per cent and MindTree which also jumped 3 per cent in trade.
PSU Banking stocks which had managed to hold ground on Tuesday, despite the carnage, ended the day with losses. Among the losers in trade were Punjab National Bank and Bank of India. Shares in BPCL fell after petrol prices were cut. Meanwhile, the rupee was trading marginally higher at 67.84 to the US dollar.