The Indian markets settled flat with negative bias on Thursday after fluctuating between minor gains and losses during the session.
The S&P BSE Sensex ended 95 points, or 0.24 per cent lower at 38,991 levels, with ICICI Bank (down over 2 per cent) being the top loser and Titan (up nearly 6 per cent) the biggest gainer.
On the NSE, the benchmark Nifty50 settled at 11,527, down 7.5 points, or 0.065 per cent. India VIX dropped nearly 3 per cent to 20.53 levels.
The broader market, however, fared better than the benchmarks. The S&P BSE MidCap index ended 0.4 per cent higher at 15,079 levels while the S&P BSE SmallCap index settled at 14,761 points, up 0.74 per cent.
Among individual stocks, Vodafone Idea ended 27 per cent higher at Rs 12.56 on the BSE after media reports said Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in the company.
Aviation stocks gained in the trade after the government allowed airlines to increase flights up to 60 per cent of their total capacity. InterGlobe Aviation ended nearly 2 per cent higher at Rs 1,270.95 on the BSE while SpiceJet settled at Rs 52.65, up over 3.5 per cent.
Shares of Jubilant FoodWorks hit a fresh record high of Rs 2,305, up 2.3 per cent, bouncing back 4 per cent in the intra-day trade, on the BSE on the expectation of margin improvement going forward. The stock settled at Rs 2,292.75, up nearly 2 per cent.
Among sectoral indices on the NSE, Nifty Bank fell the most - down nearly 1.5 per cent to 23,531 levels. Nifty IT, on the other hand, advanced the most - up 1.5 per cent to 18,348.5 levels, with 9 out of 10 constituents advancing.