Sensex rises 277 points, Nifty closes above 11,500

New Delhi: Markets closed in the green on Monday led by rally in tech and financial stocks.

The BSE Sensex rose 276.65 points or 0.71 percent to close at 38,973.70 while the Nifty went up 86.40 points or 0.76 percent to 11,503.35. 

TCS was the major gainer in the Sensex pack rising upto 7.30 percent. India’s largest IT services firm said that its board will meet later this week to consider a share buyback proposal. In 2018, the Mumbai-based company had undertaken a share buyback programme worth up to Rs 16,000 crore. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. In 2017 too, TCS had undertaken a similar share purchase programme.

Other gainers were Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL, Kotak Bank, HDFC Bank and Maruti, rising upto 4.71 percent. On the other hand, major losers were Bajaj Finserve, Bajaj Finance, Bharti Airtel, Bajaj Auto, Powergrid, ITC, Ultrachem, SBI, LT, RIL, NTPC and Asian Paint, falling upto 2.70 percent.