Indian shares recovered from early losses to trade marginally higher on Wednesday even as other across Asia succumbed to selling pressure on news of additional U.S. tariffs on Chinese imports worth $200 billion.

The benchmark BSE Sensex was up 22 points at 36,261, extending gains for the fourth straight session. The broader Nifty index was up 6 points at 10,953.

TCS rallied 2 percent after posting a better-than-expected 23 percent jump in first-quarter net profit amid accelerating revenues across all segments. Rivals Wipro and HCL Technologies rose about half a percent.

PNB Housing Finance jumped 5 percent. Punjab National Bank and U.S. private equity investor the Carlyle Group are in the process of selling at least 51 percent stake in the mortgage lender.

Axis Bank gained half a percent after its board shortlisted three candidates for CEO post to succeed Shikha Sharma.

by P2PNews Staff Writer

Market AnalysisBB

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