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The benchmark indices are trading in a range with some positive bias on Wednesday despite weakness in their key Asian peers.

Shares of Tata Consultancy Services (TCS) rose 3 per cent early on Wednesday after the country’s largest information technology (IT) services provider on Tuesday post market hours, kick-started the first quarter (Q1) earnings with broad-based growth, while showing a double-digit rise in dollar revenue for the second quarter (Q2) in a row as the management exuded strong confidence of continuing with the momentum for the rest of the year.

Meanwhile, investors are likely to watch out for movements in the global markets, rupee and oil prices during the day.Among key corporate results, Reliance Industrial Infrastructure is likely to announce its June quarter results later in the day.

In the global markets, Asian stocks retreated and perceived safe havens such as the yen and US Treasuries rose on Wednesday after the United States said it would impose tariffs on an extra 200 billion worth of Chinese imports, sharply escalating the trade war between the world’s two biggest economies.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent. The index had gained for the past two sessions, having enjoyed a lull from the trade war fears that lashed global markets last week. South Korea's KOSPI lost 1 per cent and Japan's Nikkei fell 1.2 per cent.

(with Reuters inputs)

Last modified on Wednesday, 11 July 2018

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