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Investing.com-- Indian stocks flitted in a flat-to-low range in early trade on Wednesday as investors grappled with a military escalation against Pakistan, while positive signals on U.S.-China trade talks offered some support.
The Nifty 50 benchmark rose 0.1% to 24,508.0 points by 09:44 IST (04:14 GMT), while the BSE Sensex 30 rose 0.2% to 80,782.40 points. Both indexes had opened lower, even as Gift Nifty 50 Futures pointed to a positive open.
India carried out strikes against nine alleged terrorist targets in Pakistan in the early hours of Wednesday, which it said were in retaliation for a deadly terrorist attack in Indian Kashmir in April.
Pakistan decried the move, retaliating with artillery strikes along the border in Kashmir, and also claimed to have shot down at least three Indian planes.
The strikes represented the worst fighting between the two nuclear armed nations in decades, leaving investors on edge over an escalation in tensions.
Still, bigger losses in Indian shares were limited by cheer over U.S.-China trade talks, which lifted broader Asian markets. U.S. and Chinese officials will meet for trade negotiations in Switzerland later this week, the two countries said on Tuesday.
Tata Motors Ltd (NSE:TAMO) (NYSE:TTM) was also a major supporter of the Nifty, rising nearly 3% after shareholders approved a plan where the company will split into two listed entities. The stock was the biggest gainer on the Nifty.