Indian shares shrugged off weak global cues to end marginally higher on Wednesday as TCS posted strong quarterly results and oil prices fell sharply on worries that a deepening trade row between the world's two largest economies could dent energy demand.
Brent crude futures were down 2.5 percent in European trading and U.S. crude futures for August delivery were down over 1 percent.
An apparent softening of the U.S. stance on Iran and the opening of four export terminals in Libya also weighed on the commodity.
The benchmark BSE Sensex swung between gains and losses before ending the day higher by 26.31 points or 0.07 percent at 36,265.93. The broader Nifty index closed up by 1 point at 10,948.30.
IT stocks were among the top gainers, with TCS climbing more than 5 percent after posting better-than-expected quarterly earnings amid accelerating revenues across all segments.
Globally, stocks fell across Asia and Europe after the U.S. proposed tariffs on an extra $200 billion of Chinese goods and Beijing vowed to take countermeasures.
by P2PNews Staff Writer