Indian benchmarks closed lower on Wednesday after a volatile session, breaking a five-day winning streak. The Nifty 50 closed 0.12% higher while the Sensex ended 0.17% higher. The Nifty Bank settled 0.39% lower, while midcap stocks surged. The BSE Midcap declined 0.74%, and the BSE Smallcap finished 0.42% lower. The market was driven by profit booking and caution ahead of the Q2 earnings.