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 Indian equity markets closed flat on Tuesday amid volatility in the markets. At closing, Sensex was at 76,456 down 33 points and Nifty was up 5 points at 23,264. 

Midcap and smallcap stocks outperformed the largecaps. The Nifty midcap was up 430 points or 0.81 per cent at 53,666 and the Nifty smallcap 100 closed at 17,571 up 96 points or 0.55 per cent.

Among the sector indices, Auto, IT, PSU Bank, realty, and energy were major gainers. Fin Service, FMCG, and pharma were major laggards.

L&T, Tata Motors, Maruti Suzuki, NTPC, UltraTech Cement, Tech Mahindra, Tata Steel, M&M, Bajaj Finance, HCL Tech and Power Grid were the top gainers. Kotak Mahindra, Asian Paints, Reliance, ITC, Sun Pharma, and ICICI Bank were the top losers.

Rupak De, Senior Technical Analyst, LKP Securities said, "Nifty remained sideways during the day as there was no directional move. The sentiment might remain sideways until it breaks out of the 23,150 - 23,350 range. Any decisive breakout on either side might confirm the future direction of the market."

"On the higher end, above 23,350, it might move towards 23,600. Meanwhile, support below 23,150 is placed at 23,000 - 22,900," he added.