Sensex Closes Above 40,000 Pts, Wipro Jumps 7% On Buyback

It was another day of solid gains for the markets led by strong buying in IT stocks. A good set of results by IT major TCS sparked a rally across stocks from the IT space. Apart from this, global cues were extremely strong, which further propelled the rally.

The Nifty ended the day with gains of 95 points, while the Sensex closed the day with gains of 304 points at 40,182, well above the 40,000 points mark.

Repco Home Finance shares was the top gainer on the BSE Smallcap index with the stock ending the day higher by 13 per cent.

Wipro was the top gainer from the Nifty pack after the company said that the board of directors would consider a buyback of shares on Oct 13, 2020. The shares jumped 7 per cent, following the news.

Shares in TCS ended the day higher after the company reported a good set of quarterly numbers. Shares in NMDC ended the day higher after the company said that the prices of Lump Ore have been raised by 6.1%.

Among the Nifty stocks that lost ground were ONGC, ITC, Asian Paints, Reliance Industries and Axis Bank.

Meanwhile, most of the European markets were trading with gains and Dow Futures too indicated higher openings for the US markets.