Sensex surge 193 points; TCS up 4 per cent on share buyback

Sensex closed up 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 per cent.

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 per cent higher at 8,879.20.