Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories, and Indiabulls Housing were the top losers.

Buzzing Stock: Shares of Indian Oil Corporation (IOC) gained 3 percent intraday on Wednesday as investors cheered the company’s stellar financial results for the December quarter.

The oil marketing company’s third-quarter earnings beat analyst expectations on Monday as standalone profit during the quarter more than doubled to Rs 7,883 crore, from Rs 3,696.3 crore in previous quarter.

The bottom line was far ahead of a CNBC-TV18 poll of Rs 5,222 crore for the quarter.

Nifty rejig: The National Stock Exchange’s (NSE) benchmark index, Nifty, will be undergoing a fresh round of rebalancing, effective April 2018.

Based on a few parameters, the index undergoes changes, wherein some stocks get replaced by others.

Brokerage house IDBI Capital believes that there is a high probability of names such as Ambuja Cements, Aurobindo Pharmaceuticals as well as Bosch being included in the frontline index. Meanwhile, stocks such as Grasim, Bajaj Finserv, and Titan are likely to be excluded from the list.

Market Opens: The market began the session on a mildly lower note, with the Nifty holding 11,000-mark.

The Sensex is down about 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80. The market breadth still continues to be negative as 413 shares advanced, against a decline of 639 shares, while 140 shares are unchanged.

Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories, and Ind, a bulls Housing were the top losers.

Midcaps continued to be weak, with the Nifty midcap index trading around 0.40 percent lower.

The Indian rupee opened lower at 63.67 per dollar on Wednesday versus previous close 63.60.

Pramit Brahmbhatt of Veracity said, "On the back of negative cues from the domestic equity market, the rupee will remain under pressure."

"We expect the USD-INR pair to trade in a range of 63.50-64," he added.

Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities.

MSCI's broadest index of Asia-Pacific shares outside Japan added to the previous day's losses and dipped 0.1 percent, after reaching a record high on Monday.

Australian stocks shed 0.4 percent, South Korea's KOSPI lost 0.3 percent and Japan's Nikkei dropped 0.3 percent.

US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yields.

The Dow also had its biggest daily percentage decline since May 2017 and the day's 1.37-percent fall was the second-biggest single-day drop since the election of Donald Trump, slated to give his first State of the Union speech later Tuesday.

US Treasury yields climbed to multi-year highs after the start of the Federal Reserve's two-day meeting, which could shed light on the central bank's economic and rate hike outlook.

Free Stock Cash Tips and recommendations with full executive’s support >> Nifty Market Tips or ONE MISSED CALL ON @9644405056 to subscribe us!