Indian equities are trading on a flat note amid volatility on Wednesday ahead of the May derivatives contract expiry. At 1.50 p.m., the Sensex was trading down 47.28 points or 0.17% at 27,484.13 with 15 components falling.  Meanwhile, the Nifty was trading lower by 24.30 points or 0.29% at 8,315.05 with 28 components falling.  

Biggest gainers in the 30-share index were Axis Bank  (1.96%), Oil & Natural Gas Corporation  (1.47%), Bharat Heavy Electricals  (1.45%), Coal India  (1.35%), NTPC (1.09%),  and Dr Reddy'S Laboratories  (1.03%).

On the other hand, Tata Motors  (5.43%), Mahindra & Mahindra  (2.78%), Infosys (2.37%), G A I L (India)  (1.38%), Vedanta (1.31%),  and Sun Pharmaceutical Industries  (1.29%) were the biggest losers in the Sensex.

The Bankex index was at 21,239.05, up by 177.55 points or by 0.84%. The Consumer Durables index was at 10,460.07, up by 77.78 points or by 0.75%. On the other hand, the Auto index was at 18,652.99, down by 419.02 points or by 2.2%.

Market breadth was negative with 1,026 advances against 1,287 declines.