Equity benchmarks started off the week on a strong note, with the Nifty rising over five-month closing high on Monday aided largely by TCS, Infosys and HDFC Bank. The market gained strength in afternoon trade after consolidation in morning.
The 30-share BSE Sensex rose 192.83 points or 0.68 percent to 28661.58, the highest closing level since September 23, 2016. The 50-share NSE Nifty was up 57.50 points or 0.65 percent at 8879.20, the highest closing level since September 5.
The broader markets smartly outperformed benchmarks, with the Nifty Midcap and Smallcap rising over a percent each on positive breadth. About two shares advanced for every share falling on the exchange.
TCS shares rallied 4 percent after the IT major has announced buyback of upto 5.6 crore equity shares (representing 2.85 percent of total paid up equity capital) at Rs 2,850 apiece, aggregating up to Rs 16,000 crore.
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