The benchmark BSE Sensex touched an all-time high of 36,699.53 points, tracking gains in the Asian markets.
Shares of Tata Consultancy Services (TCS) ended nearly 1 per cent lower ahead of its June quarter earnings to be announced later in the day.
Broadly negative global cues pulled the key Indian equity indices lower on Wednesday afternoon.
Indian equities gained for a third straight session on Monday as a sharp drop in crude prices and a recovery in the rupee boosted sentiment.
TCS increased its spending on research and development and innovation initiatives by over 17% to Rs 1,500 cr in 2017-18, compared to the previous year.
TCS shares slipped 0.43 per cent to settle at Rs 3,589.45 apiece on the BSE. During the day, it had gained 1.91 per cent to hit a one-year high of Rs 3,674.
Indian shares rose, driven by IT stocks such as Infosys Ltd and Tata Consultancy Services Ltd on the back of a weak rupee.
Wipro Ltd, India’s third-biggest software services exporter by revenue, posted lower-than-expected fourth-quarter net profit, hurt by lower revenue from operations.
Shares of TCS today surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over USD 100 billion.
Tata Consultancy Services Ltd, breached the 3,500 rupee per share mark on Monday for the first time, reaching $100 billion in market capitalisation.