Indian equities reversed early losses on Wednesday as shares of Infosys Ltd rose after the company strongly condemned the mischievous insinuations made by anonymous sources against the cofounders and former colleagues, suggesting their involvement in the recent whistleblower allegations.
At 12 pm, the benchmark Sensex was up 0.2 per cent at 40325.86 points, while the Nifty also advanced 0.2 per cent to 11940.05 points. Infosys stock surged 2.8 per cent.
Nandan Nilekani, chairman Infosys, has said the company will take necessary steps if the investigation into whistleblower complaints substantiates claims of corporate misgovernance, adding that the firm has responded responsibly and complied with applicable laws and past practices.
Globally, investors stayed on the sidelines eyeing developments around the US-China trade deal. Asian stocks had opened flat to marginally lower today even as US indices had closed higher overnight. Oil prices retreated from a six-week high as investors weigh indications of expanding US crude inventories and mixed signals on the progress of trade parleys between Washington and Beijing.