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Sensex logs modest gains, TCS gains on hopes of share buyback

WT24 Desk

The BSE Sensex rose 47 points on Wednesday to close at 35,739.16 in see-saw trade, led by gains in software exporters and healthcare stocks, PTI reports.

Buying picked up after official data showed industrial output expanded by 4.9% in April this year, spurred by higher growth in manufacturing and mining sectors.

However, concern prevailed over retail inflation inching up to 4.87% in May on increase in food prices.

The 30-share index opened strong and hit a high of 35,877.41 on sustained buying by domestic institutional investors.However, it gave up much of the gains on late selling by participants and finally settled at 35,739.16, still up 46.64 points, or 0.13%.

In past two days, the index gained 248.85 points. Similarly, the broader 50-issue NSE Nifty ended higher by 13.85 points, or 0.13%, at 10,856.70 after moving in the range of 10,893.25 and 10,842.65.

Domestic institutional investors (DIIs) bought shares worth a net Rs 1,327.45 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,168.88 crore on Wednesday, provisional data showed.

Asian markets ended mixed and European stocks rose in their early deals as investors awaited the US Federal Reserve’s policy decision, shifting focus away from the historic US-North Korea summit in Singapore.

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