Indian equities pared morning gains on Tuesday dragged by pharma and PSU bank stocks. Investors were also cautious ahead of PM Modi's address to the nation. The Sensex closed 45 points down at 34,915 and the Nifty ended the day almost flat at 10,300. BPCL, Powergrid, Sun Pharma, GAIL and IOC were the top Nifty losers. Whereas, Shree Cements, Maruti, ICICI Bank, Nestle India and Britannia were the top gainers. The rupee settled 7 paise higher at 75.51 against the US dollar.