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Sensex closes higher again; TCS gains on news of share buyback proposal

13 June, 2018

Indian shares ended higher for a third straight session on Wednesday, buoyed by gains in Tata Consultancy Services Ltd after the company said it would buy back stock, while robust monthly industrial growth data lifted sentiment.

Industrial output grew 4.9 percent in April from a year earlier, driven by a pick up in manufacturing, while annual retail inflation accelerated to a four-month high in May, underpinned by higher fuel prices and a depreciating rupee, government data showed on Tuesday.

The broader NSE Nifty ended 0.13 percent higher at 10,856.70, while the benchmark BSE Sensex closed up 0.13 percent at 35,739.16. Both indexes marked their highest closing levels since Feb. 1.

Top software services exporter Tata Consultancy Services closed up 2.4 percent after the company said it would consider a share buyback proposal on Friday.

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Sensex closes higher again; TCS gains on news of share buyback proposal

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