Key indices settled with small gains after a volatile session of trade. The barometer index, the S&P BSE Sensex, rose 52.79 points or 0.15% to settle at 36,374.08. The Nifty 50 index rose 14.90 points or 0.14% to settle at 10,905.20.

Local stocks nudged higher in early trade on positive Asian stocks. Key indices hovered in positive zone in morning trade. Stocks traded in a small range in mid-morning trade. Volatility struck bourses in early afternoon trade as the key benchmark indices erased intraday gains and were trading a tad above the flat line. Stocks fell in negative zone in afternoon trade. Volatility ruled the roost in mid-afternoon trade as the key indices reversed losses soon after hitting intraday low. Stocks hovered in positive zone in late trade.

The S&P BSE Mid-Cap index fell 0.3%. The S&P BSE Small-Cap index fell 0.33%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1043 shares rose and 1521 shares fell. A total of 180 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 1.13%), the S&P BSE Oil & Gas index (up 0.8%), the S&P BSE IT index (up 0.49%) outperformed the Sensex. The S&P BSE Basic Materials index (down 0.28%), the S&P BSE Healthcare index (down 0.91%), the S&P BSE Metal index (down 0.14%) underperformed the Sensex.

Axis Bank (up 1.91%), HCL Technologies (up 1.77%), HDFC (up 1.51%), TCS (up 1.34%) and Kotak Mahindra Bank (up 1.24%) edged higher from the Sensex pack.

Sun Pharmaceutical Industries (down 5.78%), Yes Bank (down 3.31%), SBI (down 1.78%), Bajaj Finance (down 1.45%) and Bharti Airtel (down 0.76%) edged lower from the Sensex pack.

Hindustan Unilever fell 1.12%. Earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 2046 crores was up by 22% in Q3 December 2018 over Q3 December 2017 Profit after tax before exceptional items, PAT (bei), at Rs 1401 crore was up by 17%. Profit after tax at Rs 1444 crore was up by 9%. The Q3 result was announced after market hours today, 17 January 2018.

Reliance Industries shed 0.03% ahead of its Q3 result today, 17 January 2018.

State Bank of India lost 1.78%. The bank has concluded the standalone issuance of Fixed Rate Senior Unsecured Notes in two tranche of $850 Mio for 5 years with a coupon of 4.375% and $400 Mio for 3 years with a coupon of 4% payable semi-annually. The bonds will be issued through London Branch as of 24 January 2019 and shall be listed on Singapore Stock Exchange and India lnternational Exchange, GIFT City. The announcement was made during market hours today, 17 January 2019.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.0350, compared with closing of 71.2475 during the previous trading session.

In global commodities markets, Brent crude oil futures edged lower. Brent for March 2019 settlement was off 56 cents at $60.76 a barrel.

Overseas, European stocks are trading lower as worries about trade relations between China and the US also kept the mood cautious. In Europe, UK Prime Minister Theresa May's government survived a vote of no-confidence in parliament, a day after her proposed Brexit plan was overwhelmingly rejected by lawmakers. The defeat, 432 against compared with 202 in favor, was the largest margin of defeat by a sitting British government since the 1920s, and throws into doubt the country's plans to exit from the EU without disrupting global markets.

Asian stocks were mixed as concerns about rising US-China tensions offset signs of a better-than-expected start to the earnings season. A report that the US was investigating China's Huawei for allegedly stealing trade secrets from American companies also weighed on sentiment.

In US, Wall Street's major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment. The Dow Jones Industrial Average rose 141.57 points, or 0.59%, to 24,207.16, the S&P 500 gained 5.8 points, or 0.22%, to 2,616.1 and the Nasdaq Composite added 10.86 points, or 0.15%, to 7,034.69.

Investors are watching the implications of a protracted, partial government shutdown, which has now stretched to a record 26th day. While markets have largely shrugged off the drama unfolding in Washington, economists warn that the longer the impasse lasts, the greater the effect on the economy will be.