The MSCI All Country World Index, which tracks shares in 47 countries, was up a little over 0.1 percent, and set to end the week flat after two consecutive weekly gains.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.55 percent after falling as much as 0.4 percent earlier.
World stocks recovered some ground as oil prices stabilised, while the dollar edged lower and most other markets were subdued before Federal Reserve Chair Jerome Powell testifies to the U.S. Congress.
India's broader index .NSEI has gained about 3 percent this year, compared with a 5 percent fall in MSCI Asia ex-Japan index .MIAPJ0000PUS.
Asian shares rallied for a third session as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive.
The MSCI world equity index .MIWD00000PUS, which tracks shares in 47 countries, rose 0.4%, while the pan-European STOXX 600 index was up 0.6%.
Indian shares rose, tracking gains in Asian peers after favourable U.S. jobs data boosted risk appetite, with heavyweights Reliance Industries Ltd and ICICI Bank Ltd driving the indexes higher.
Temasek Holdings is likely to book a record S$300 billion ($221 billion) for the value of its portfolio, powered by gains in DBS Group Ltd and Chinese banks.
Stocks rose and the euro climbed to a three-week peak as the imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday, though concerns about the conflict escalating capped appetite for risk.
Indian shares rose and looked set to post a weekly gain with most sectors trading higher and energy stocks climbing on softer crude prices.