The BSE Sensex ended with modest gains on Friday, helped by a late burst of buying in technology and pharma stocks, even as global sentiment took a hit after the US slapped fresh tariffs on Chinese imports.
Index heavyweight TCS spurted 2.75 per cent after the company’s board approved a Rs 16,000-crore share buyback plan. Global cues were grim as US President Donald Trump approved levying of new tariffs worth $50 billion on Chinese exports, while Beijing vowed to quickly retaliate.
European shares were mixed after the European Central Bank (ECB) said it would phase out some of its easy-money policies, but held back on a rate hike.
The 30-share Sensex, after succumbing to a broad sell-off in afternoon trade, managed to close 22.32 points or 0.06 per cent higher at 35,622.14 on fag-end buying in IT and pharma counters.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
The benchmarks finished with gains for the fourth week in a row. The Sensex advanced 178.47 points, or 0.50 per cent while the Nifty climbed 50.05 points or 0.46 per cent.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 576.19 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,372.84 crore on Thursday, as per provisional data.