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Sensex Closes Marginally Higher, Nifty At 10,818; TCS Jumps Nearly 3%

TCS on Friday approved buyback of 1.99 per cent of the equity share capital, not exceeding Rs 16,000 crore.

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Sensex Closes Marginally Higher, Nifty At 10,818; TCS Jumps Nearly 3%

The NSE IT index gained as much as 1.1 per cent.

The S&P BSE Sensex rose by 22.32 points or 0.06 per cent and closed at 35,622.14 on Friday while the Nifty50 index gained 9.65 points or 0.09 per cent and settled at 10,817.70. The 30-share Sensex continued to swing between gains and losses but closed on positive note, as Infosys Ltd and TCS marked fresh record peaks, while pharmaceutical stocks such as Dr. Reddy's Laboratories Ltd rallied. Tata Consultancy Services (TCS) shares jumped over 3 per cent after the firm approved buyback of 1.99 per cent of equity share capital, not exceeding Rs 16,000 crore.
10 things to know about stock market's trading today:
  1. Major gainers in the Sensex pack were Dr Reddy's, Infosys, TCS, Sun Pharma, Reliance and Hindustan Unilever while losers were Yes Bank, SBI, ONGC, Coal India, Mahindra & Mahindra and NTPC. 
  2. TCS, Infosys, Reliance, Cipla, Sun Pharma and Dr Reddy's were leading the pack of Nifty gainers. While the main losers on NSE were Hindalco, IOC, Yes Bank and Coal India.
  3. TCS will carry out the share buyback at Rs 2,100 per equity share, company's announcement said.
  4. IT stocks such as Infosys Ltd also climbed, supporting the stock market initially today, while caution prevailed across the globe as US looked set to impose tariffs targeting $50 billion Chinese goods and Beijing warned that it was ready to respond.
  5. The NSE pharma index climbed as much as 2.3 per cent in its eighth straight session of gains. Sun Pharmaceutical Industries Ltd rose 2.6 per cent to its highest in over three months.
  6. Dr. Reddy's Labs was one of the gainers on the NSE index and closed 3.5 per cent higher after the drugmaker said it would launch buprenorphine and naloxone sublingual film in the US market.
  7. Reliance Industries rose as much as 1.5 per cent and was set for its 10th session of gains in 11 sessions.
  8. The NSE IT index gained as much as 1.1 per cent, on track to end higher in six out of the last seven sessions.
  9. Meanwhile, Vakrangee Ltd fell as much as 5 per cent after the company said its March-quarter consolidated profit nearly halved.
  10. Asian markets were also cautiously mixed ahead of expected US tariffs. Chinese benchmark Shanghai Composite index plumbed to a 20-month low but Japan's Nikkei average closed up 0.5 per cent. (With inputs from Agencies)




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