Indian equities closed tad higher, paring most of early gains, on Wednesday, tracking weak cues from Asian peers, as investor cheered faster-than-expected growth in factory output. Industrial production surged by 4.9 per cent in April, from the five-month low of 4.4 per cent growth seen in March. Shares of Tata Consultancy Services (TCS) rose 2 per cent after IT major said that its board will consider a proposal for buyback of equity shares of the company, at its meeting to be held on June 15, 2018. Bucking the trend, the broader markets were trading lower, with MidCap and SmlCap indices falling as much as 0.46 per cent and 0.21 per cent, respectively.
The 30-share benchmark index closed trade at 35739.16, up by 46.64 points or by 0.13 per cent, and the NSE Nifty settled at 10856.7, up by 13.85 points or by 0.13 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 35877.41 and intraday low of 35715.96, while the NSE Nifty touched intraday high of 10893.25 and intraday low of 10842.65.
The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2251.00,+2.77%), Tata Consultancy Services Ltd. (Rs. 1824.20,+2.43%), State Bank of India (Rs. 287.65,+1.70%), Power Grid Corporation of India Ltd. (Rs. 198.50,+1.43%), Infosys Ltd. (Rs. 1276.10,+1.41%), among others.
On the flip side, Tata Steel Ltd. (Rs. 567.50,-2.12%), Adani Ports & Special Economic Zone Ltd. (Rs. 382.05,-1.51%), Hindustan Unilever Ltd. (Rs. 1619.00,-1.31%), Bharti Airtel Ltd. (Rs. 377.40,-0.96%), Larsen & Toubro Ltd. (Rs. 1353.50,-0.75%), were among top losers on BSE.
On the sectoral front, IT and Teck stocks emerged as top gainers on BSE, rising as much as 1.29 per cent and 0.94 per cent, respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2985, shares advanced were 1370 while 1439 shares declined and 176 were unchanged.