Benchmark indices closed flat after a volatile session on Wednesday with Nifty finishing just above 10,650 level. At the close, the Sensex was down 1.25 points at 35591.25, while Nifty was down 0.40 points at 10651.80. ICICI Bank, Tata Steel, Axis Bank, HCL Tech and SBI are the top gainers, while Bajaj Auto, Kotak Mahindra Bank, Yes Bank, HDFC and Reliance Industries are among major losers on the Sensex. Among the sectors energy, FMCG and pharma witnessed some selling pressure, while buying was seen in bank, IT and metal stocks.

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Godrej Consumer products shares have slumped almost 8.5 percent intraday to Rs 693.20 as brokerage houses cut their earnings estimates after the company's weak set of earnings for the quarter ended December 2018. The stock quoted at Rs 696.75, still down by 7.25 percent on the NSE at 1.53 pm with as many as 32,13,053 shares traded. Meanwhile, benchmark indices traded in the green, after early afternoon's volatility. The Nifty was up by 2 points to trade at 10,654 at 1.56 pm. The Sensex gained 50 points to trade at 35,643.

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Dewan Housing Finance Ltd (DHFL) failed to assuage investor unease over CobraPost's allegations, pressuring the stock when it resumed trading on Wednesday. Shares of the mortgage lender slumped as much as 12 percent to Rs 153 in early morning trade, extending previous day's selloff after investigative news portal Cobrapost accused DHFL of siphoning off Rs 31,000 crore of loans to 'dubious' companies. The stock ended 8 percent lower following the news on Tuesday.

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Shares of Bosch gained 3 percent in the early trade on Wednesday as company's buyback offer to open on February 6 and will close on February 20. The buyback is of 10,27,100 equity shares of Rs 10 each of the company at a price of Rs 21,000 per equity share.

The Sensex started more than 183 points higher, or 0.51 percent, to 35,775.70, while the Nifty surged by 46.50 points, or 0.44 percent, to 10,699. The Nifty MidCap index surged half a percent, while Nifty Bank climbed 0.84 percent. Among top gainers, both Axis Bank and HCL Technologies shares surged more than 4 percent after robust third quarter earnings. Bajaj Finance gained 3.4 percent. Yes Bank and ICICI Bank climbed 2.5 percent. Among laggards, Adani Ports, BPCL, Hero MotoCorp, HDFC Bank and HDFC slipped between 0.80 percent and 1.4 percent.

The Indian rupee opened lower by 25 paise at 71.36 per dollar on Wednesday against Tuesday's close 71.11. Meanwhile, the Sensex jumped 227 points, or 0.64 percent, to 35,819 at 9.08 am. The Nifty settled at 10,702, up by 50 points, or 0.47 percent. The Nifty MidCap surged 0.36 percent, while Bank Nifty was higher by 0.81 percent.

Yes Bank promoters Rana Kapoor and Madhu Kapur have agreed to nominate one representative director each on the bank's board as part of truce under the works, the private lender said on Tuesday.

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To promote domestic assembling of electric vehicles, the government Tuesday lowered customs duty on import of parts and components of such vehicles to 10 to 15 percent. Until now, vehicle parts and components imported for assembly in India attracted import duty of 15 to 30 percent.

CNBC-TV18 Polls had predicted a profit of Rs 2,516 crore for the quarter under review.

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Results today: ICICI Bank, Bajaj Auto, IOC, NTPC, BEL, Ajanta Pharma, Castrol India, Cholamandalam, Hexaware, Jubilant Foodworks, LIC housing, TATA Comm, Torrent Pharma, Ashoka Builcon, Bajaj Holding, EIH, BF Utilities, BF Investment, Blue Dart, Dixon Technologies, Gujarat Pipavav, Astra Microwave, Dhampur Sugar, Jindal Stainless, JSW Energy, Kolte Patil, Mahindra holidays, TATA Communications, Vinati Organic, Alembic Pharma, Alkyl Amines Chemicals, Arvind Smartspaces, EPC Industries, GMM Praudler, GP Petroleums, Heritage Foods, IFB Agro, IIFL Holdings, Indraprastha Medical Corp, International Paper, Kirloskar Ferrous, Mahindra Logistics, MAS Financial, Orient Bell, Pioneer Distilleries, Plastiblends, Ratnamani Metals, Sagar Cements, Shemaroo Entertainment, SIS, AAVAS Financiers. 

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Shares of Dewan Housing Finance Corporation Ltd (DHFL) tanked 10 percent after news portal Cobrapost alleged that the mortgage lender's promoters siphoned off about Rs 35,000 crore.

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