Indian shares ended largely unchanged on Wednesday as threats of a new tariff imposition on Chinese goods by the United States hurt sentiment, but losses were curbed as technology stocks such as Tata Consultancy Services Ltd gained after posting a record quarterly net profit.
The broader NSE index closed up 0.01 percent at 10,948.30, while the benchmark BSE index ended 0.07 percent higher at 36,265.93.
While Tata Consultancy Services ended the session 5.6 percent higher, metals and financial stocks were the biggest drag on the indexes. ICICI Bank Ltd ended 1.7 percent lower, while Vedanta Ltd closed 3.5 percent lower.
"Global markets will continue to remain an important factor for our market," said Dhananjay Sinha, head of institutional research, Emkay Global Financial Services.
"With respect to corporate earnings, the numbers might look somewhat better than last year's," he added. India's biggest software services exporter, TCS, posted a record net profit in June quarter driven by strong growth in its Banking, Financial Services and Insurance unit.
The Nifty IT index rose 1.3 percent led by TCS, up as much as 3.6 percent.
Among the gainers, PNB Housing Finance Ltd surged 6.4 percent after it said on Tuesday Punjab National Bank and Quality Investment Holdings, an arm of global private equity investor Carlyle Group LP, are selling their stakes in the company.