Stock market closing bell: IT defies market trends, benchmarks settle flat

Stock market closing bell: Benchmark Indian equity indices erased their early gains but managed to settle in the green, marking their 7th consecutive session of gains backed with the gains in the IT stocks on Tuesday. After a 5-day rally, the Mid and Smallcap shares witnessed profit booking, dragging the Nifty Midcap100 and Nifty Smallcap100 indices down by over 1 per cent each.