The domestic equity benchmarks ended with minor cuts after a volatile session on Thursday. The Nifty settled below 16,850 mark after hitting the day's high of 17,026.05 in the early trade. Pharma, PSU bank and media stocks were in demand. On the other hand, IT, financial services and auto shares were under pressure. Investors awaited the outcome of a key meeting of the RBI's monetary policy committee due this week for domestic cues.