Meanwhile, India's wholesale inflation eased to an eight-month low of 2.47 percent in March on cheaper food articles, the commerce ministry report showed, helping investors shrug off Infosys's lackluster quarterly results and data showing widening trade deficit in March. The index in fact ended up closing with a gain of 112.78 points at 34,305.43.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,944.73 points, traded at 34,147.31 points (12.58 p.m.) - down 45.34 points or 0.13 per cent from its previous session's close. The stock was the biggest contributor to the losses on Sensex.
The 50-share NSE Nifty too moved in a wide range and finally closed 47.75 points, or 0.46 per cent, higher at 10,528.35.
Infosys followed Tata Motors and lost over 3.10% at 1,132 level after the firm cut its margin guidance for FY19, and disclosed plan to sell Panaya and Skava during its Q4 earnings announcement on Friday. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.
On the other hand, healthcare index gained 0.75%, FMCG 0.49%, realty 0.4% and capital goods 0.36%.
Other major losers were Tata Motors, Axis Bank, Tata Steel, ONGC, Reliance, and Bharti Airtel, falling by up to 2.71%.
Tata Motors Ltd shares declined over 2% after a news report said that Jaguar Land Rover is planning to cut almost 1,000 jobs as it scales back production at some of its United Kingdom sites.
The rupee fell 20 paise against the U.S. dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.