The S&P BSE Sensex and NSE Nifty 50 indexes rose for third session in a row led by rally in Tata Consultancy Services which rose after it informed exchanges that its board will consider share buyback proposal on October 7, the day it will declare its second quarter earnings. The Sensex rallied as much as 567 points to briefly move above 39,000-mark and Nifty 50 index reclaimed its important psychological level of 11,500. TCS was top mover in the Sensex and it alone contributed 184 points towards the Sensex.
The Sensex ended 277 points or 0.71 per cent to close at 38,974 and Nifty 50 index climbed 0.76 per cent or 86 points to close at 11,503.
Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Information Technology index’s 3.5 per cent gain. Metal, pharma and private banking shares also witnessed buying interest.
On the other hand, energy, media, state-run lenders and select auto stocks faced selling pressure.
Mid- and small-cap shares ended on a mixed note as Nifty Midcap 100 index fell 0.1 per cent while Nifty Smallcap 100 index advanced 0.6 per cent.