Indian shares ended flat on Wednesday as investors booked profit in recent outperformers, but defence stocks rose after the United States recognised the country as a "major defence partner" during Prime Minister Narendra Modi's ongoing U.S. visit.

 

The broader NSE Nifty ended 0.08 percent higher at 8,273.05, while the benchmark BSE Sensex closed up 0.04percent at 27,020.66.

 

Technical indicators point to more gains ahead, with the Nifty last month seeing its 50-day moving average cross above the 200-day average, creating a bullish trend called the "golden cross".

 

Defence-sector stocks, including Bharat Electronics, Astra Micro Wave Products Ltd, Reliance Defence and Engineering Ltd and Walchandnagar Industries Ltd rose between 6.8 pct and 17.3 pct, on hopes of new contracts.