Domestic equity markets closed on a flat note with marginal gains supported by robust buying in IT blue chips such as TCS and Infosys. On the sectoral frontage, IT and pharma stocks outperformed, on the back a sharp fall in the rupee.
Benchmark index of BSE Sensex, ended higher by 22.32 points at 35,622.14 while Nifty of National Stock exchange (NSE) went up 9.65 points at 10,817.70 in trade in the Week ended Friday.
Infosys (+3.96), Dr.Reddy’s (+3.90%), Cipla (+3.74%), TCS (+2.93%) and Sun Pharma (+2.28%) were the top gainers on NSE, while Hindalco (-2.88%), Indian Oil Corp (-2.36%), Ultra Tech (-2.09%) and Yes Bank (-1.76%) were the top losers on NSE.
Shares of IT bellwether TCS gained over 2.75 percent at Rs. 1,841.45 per share after the Company approved a share buyback of Rs 16,000 crore in which the IT major will be repurchasing about 7.61 crore equity shares.
It was today that the India’s largest IT firm in its board meeting has approved a share buyback of up to 76.1 million shares or 1.99 percent of the total paid up equity upto Rs. 16,000 crore.
As per Exchange’s provisional data, on 14 June, domestic Institutional Investors (DIIs) purchased shares worth Rs 576.19 crore, while FPIs (foreign portfolio investors) sold equities worth Rs 1372.84 crore.