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The Nifty50 after opening flat traded rangebound throughout the session but started correcting gradually in late morning deals. It fell below psychological 11,700-mark in the last half an hour of trade and closed tad below the same level on Wednesday.
The index formed bearish candle on the daily candlestick charts ahead of expiry of August futures & options contracts on Thursday.
But the broader markets outperformed frontline indices with the Nifty Midcap index rising half a percent while the sectoral trend was mixed with the Nifty Metal, PSU Bank and Realty indices climbing over a percent each.
The Nifty50 opened at 11,744.95 and closed at 11,691.90. In the morning, the index after flat opening dipped and immediately bounced back to hit an intraday high of 11,753.20 followed by volatility. It started correcting gradually in late morning deals and hit a day's low of 11,678.85 in late trade. The index closed 46.60 points lower at 11,691.90.
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