Volatile trading session ended with decent gains, backed by firmness in HDFC, HDFC Bank and ITC. The barometer index, the S&P BSE Sensex, rose 231.98 points or 0.64% to 36,212.91, as per the provisional closing data. The Nifty 50 index rose 53 points or 0.49% to 10,855.15, as per the provisional closing data.

The Sensex ended above 36,000 mark after slipping below that level in mid-afternoon trade. The Nifty ended above 10,800 mark after slipping below that level in mid-afternoon trade. Investors sentiment was strong amid a firm trend overseas, supported by rising hopes that the US and China would strike a deal to end their trade war.

Indices opened higher and continued trading on a firm note in morning trade. Indices trimmed gains in mid-morning trade. The market further pared gains in early afternoon trade. After firming up in afternoon trade, key barometers sharply reversed trend and turned negative in mid-afternoon trade. Indices bounced back in late trade.

Among secondary barometers, the BSE Mid-Cap index fell 0.04%. The BSE Small-Cap index fell 0.17%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1155 shares rose and 1442 shares fell. A total of 150 shares were unchanged.

Bharti Airtel (up 3.39%), Axis Bank (up 3.09%) and Tata Motors (up 2.54%), ITC (up 2.09%), HDFC (up 1.79%) and HDFC Bank (up 0.67%), were the major Sensex gainers.

Yes Bank (down 3.15%), ONGC (down 1.22%), Hero MotoCorp (down 1.49%), Bajaj Finance (down 0.65%) and HCL Technologies (down 0.65%), were the major Sensex losers.

IndusInd Bank rose 1.42%. The bank's net profit rose 5.21% to Rs 985.03 crore on 32.13% increase in total income to Rs 7232.32 crore in Q3 December 2018 over Q3 December 2017. The result was announced during trading hours today, 9 January 2019.

Infosys rose 0.90%. The company announced that its board will consider proposals, including but not limited to, buyback of fully paid-up equity shares of the company, payment of special dividend, for implementation of the Capital Allocation Policy at its meeting to be held on 11 January 2019. The outcome of the board meeting will be disseminated to the stock exchanges after conclusion of the board meeting on January 11, 2019. The announcement was made after market hours yesterday, 8 January 2019.

Tata Steel fell 2.41%. The company said that standalone steel production was marginally up in Q3 December 2018 over Q3 December 2017 with steady plant utilization. Sales volume was lower due to seasonal headwinds, particularly in terms of softer Automotive demand, and inventory replenishment. The announcement was made after market hours yesterday, 8 January 2019.

Vedanta fell 0.43%. The company announced after market hours yesterday, 8 January 2019, that the Supreme Court on 8 January 2019 post hearing of the Sterlite Copper matter (in the Civil Appeal No. 23 of 2019 filed by the State of TN & Others and the SLP(C) Nos.129-131/2019 filed by Vedanta), has passed an order to uphold the NGT's order dated 15 December 2018, allowing Vedanta to reopen its Copper Smelter at Tuticorin. The Supreme Court has further stayed the impugned order dated 21 December 2018 (which had granted status quo on the NGT order of 15 December 2018) passed by the Madurai Bench of the Madras High Court. The directions that have been passed by the NGT vide its judgement dated 15 December 2018 will continue to subsist and will be subject to the ultimate outcome of the appeal. Vedanta said it is approaching the state government for necessary approvals for restarting the smelter as per SC directions.

Maruti Suzuki India rose 0.55%. The company said its total production fell 12% to 1.07 lakh units in December 2018 over December 2017. The announcement was made during market hours today, 9 January 2019.

Meanwhile, India's GDP is expected to grow at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment growth. The World Bank said India will continue to be the fastest growing major economy in the world.

Overseas, stocks in Europe were trading higher on Wednesday as investors monitored an unexpected third day of trade talks between China and the US

Asian shares rose on Wednesday, as investors remained cautiously optimistic Beijing and Washington could move forward on a trade deal. Investors will be watching out for developments on the US-China trade front after negotiations between the world's two largest economies extended into an unscheduled third day.

US stocks closed higher for a third straight session Tuesday as optimism over US-China trade talks bolstered sentiment.

On the US data front, small-business optimism fell in December, according to the National Federation of Independent Business small-business optimism index, which decreased 0.4 points to a seasonally adjusted level of 104.4, its lowest in 14 months.

The number of new job openings fell to its lowest level since June, at 6.89 million, down from 7.13 million in October, the Labor Department reported Tuesday.

The Census Bureau was scheduled to release data on the trade deficit Tuesday morning, but the release was delayed due to the government shutdown.