Indian benchmark indices ended higher on Wednesday, followed by Asian peers, after Washington delayed tariffs on some Chinese imports, bringing some relief to global markets rattled by a bruising trade conflict.

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The Sensex ended 353 points higher at 37,311 while the broader Nifty50 index surged 103 points to end the day at 11,029.

US President Donald Trump delayed his September 1 deadline for 10 percent tariffs on some Chinese imports, delaying duties on a range of consumer goods and sending Wall Street stocks soaring on Tuesday.

The Shanghai Composite Index advanced 0.6 percent while Hong Kong's Hang Seng, which has been hurt by disruptions from large anti-government protests, rose 0.5 percent. South Korea's KOSPI advanced 0.7 percent and Japan's Nikkei rose 1 percent.

The trade conflict has disrupted global supply chains and slowed economic growth, dampening sentiment across markets.

In broader markets, the Nifty Midcap and the Nifty Smallcap indices advanced 1 percent and 0.67 percent, respectively.

UPL, Bajaj Finserv, Zee, Tata Steel, and Vedanta were the top gainers on the Nifty50 index while Sun Pharma, Indiabulls Housing, Wipro, Dr Reddy's and Coal India led the losses.

All sectoral indices, except the Nifty Pharma, were positive for the day. The Nifty Media index gained the most, up 2.7 percent, followed by the Nifty Metal, which rose 2.3 percent.

The Nifty PSU Bank and the Nifty Pvt Bank rose 1 percent each, while the Nifty PSU Bank index was up 1.5 percent. The Nifty Auto and Nifty Fin Services added 0.9 percent each. Meanwhile, the Nifty Pharma fell 1.4 percent.

Glenmark Pharma, Sun Pharma, Lupin and Dr Reddy's dragged the Pharma index, falling in the range of 1.5-7 percent. Sun Pharma fell over 5 percent post Q1 results.

Shares of Apollo Hospitals rose 3 percent after it reported robust June quarter results. The company's net profit rose over two-fold to Rs 49.15 crore in Q1 as against Rs 23.34 crore in the corresponding quarter a year ago.