Sensex gains over 100 points; Nifty near 9900

Wipro rallies 8% on Rs. 11000-cr share buyback

The company also gave out a guidance for the IT services' business, which was a bit of a disappointment.

The RIL stock made a fresh nine-year high on the back of encouraging Q1 FY18 results and Annual General Meeting announcements by its Chairman Mukesh Ambani.

The S&P BSE Sensex rose 0.39 percent to 32,028 while the broader NSE Nifty advanced 0.42 percent to 9,915.

The gauge had lost 50.95 points yesterday.

The wider Nifty of the National Stock Exchange (NSE) fell by 26.30 points, or 0.27 per cent to provisionally close at 9,873.30 points (at 3.30 p.m.).

After opening the week at 32,053.98 points, the Sensex closed at 32,028.89, advancing just 0.03 percent from the previous Friday?s closing price. RIL shares rose by almost 4% after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore for the April-June quarter.

"Besides, the company's board announced a share buyback proposal of Rs 11,000 crore entailing 34.3 crore shares at Rs 320 apiece". Sector-wise, IT rose 2.10 per cent, followed by Energy (1.57 per cent), Media (1.06 per cent), Commodities (0.53 per cent), Private bank (0.35 per cent) and Metal (0.21 per cent).

The Reliance Industries stock hit a 52-week high ahead of its 40th annual general meeting scheduled to begin in nearly an hour from now today. Both the indices ended the week with marginal gains.

Other gainers from the sensex pack were Axis Bank 5.28 percent, Coal India 4.67 percent, TCS 3.84 percent, ONGC 3.78 percent, Asian Paints 3.52 percent, Cipla 3.43 percent, Tata Motors 2.81 percent, Kotak Bank 2.22 percent, Dr Reddy's Lab 2.04 percent, HUL 1.65 percent, Bharti Airtel 1.37 percent, HDFC Bank 1.33 percent and Sun Pharma 1.07 percent.

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