Shares of TCS, which is due to report quarterly results this evening, finished the session 0.21 percent lower. Bandhan Bank Ltd's stock ended as much as 4.26 percent higher, after the Kolkata-based bank posted a 10 percent rise in third quarter profit on Thursday.
"Off late, oil has been an important driver in nudging the markets higher or lower. This is causing volatility," said Anita Gandhi, whole-time director at Arihant Capital Markets, Mumbai.
"Broader market sentiment remains positive except that investors are now looking forward to the outcome of results."
Yes Bank Ltd shares were up as much as 1.31 percent, after the private sector bank said on Wednesday it had finalised potential candidates for the position of chief executive officer, but did not disclose names.
"Markets were expecting names from the bank, but deferment by one day is not seeming to have too much of an effect as markets will take time to understand who is coming," Gandhi added.
Gains in IT stocks were outweighed by losses in financial stocks on the Nifty index.
Infosys Ltd's stock gained for a second straight session, rising as much as 0.87 percent, after the company on Tuesday said it will consider a share buyback and a special dividend on Friday when it is due to report results. Shares of Indusind Bank Ltd were down as much as 2.98 percent, posting their biggest intrady loss since December 11.