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Sensex Soars 193 Points; TCS Zooms 4 Percent

Benchmark Sensex surged 193 points to close at nearly five-month high of 28,661.58 on Monday on robust buying in metal and IT counters amid positive global cues.

Updated:February 20, 2017, 4:31 PM IST
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Sensex Soars 193 Points; TCS Zooms 4 Percent
A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Photo Credit: Reuters)

Mumbai: Benchmark Sensex surged 193 points to close at nearly five-month high of 28,661.58 on Monday on robust buying in metal and IT counters amid positive global cues.

Sentiment also got a boost after IT major TCS approved a share buyback plan of up to Rs 16,000 crore.

The buyback price has been set at Rs 2,850 a piece. Shares of TCS jumped 4.08 per cent to Rs 2,506.50.

The BSE Sensex, after opening a tad higher, quickly slipped into negative terrain to hit a low of 28,419.27 on profit-booking.

But it staged a strong comeback to touch a high of 28,696.53 before settling at 28,661.58, showing a rise of 192.83 points, or 0.68 percent.

This is its highest closing since September 23, 2016, when it had closed at 28,668.22.

The NSE Nifty-50, after shuttling between 8,809.80 and 8,886.25, finally closed 57.50 points, or 0.65 percent higher at 8,879.20.

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