Indian shares end higher; Reliance Industries leads

Wipro was biggest gainer among Sensex stocks, up 6.5 percent after higher-than-expected worth (Rs 11,000 crore) of share buyback and good June quarter earnings despite subdued Q2 dollar revenue guidance and analysts' negative stance.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,033.82 points, closed at 31,904.40 points - down 50.95 points, or 0.16 per cent, from the previous close at 31,955.35 points.

"Shares of Wipro, India's third largest IT firm, traded higher by 7.06 per cent to Rs 288 after the company on Thursday posted a 1.2 per cent rise in its consolidated net profit at Rs 2,076.7 crore for June quarter", Desai said.

Indian shares rose on Friday to post a third consecutive weekly gain, with Reliance Industries Ltd hitting it highest in over 9-1/2 years after posting strong quarterly results and announcing the launch of a low-priced, 4G-enabled phone.

Software exporter Wipro jumped 7 percent after announcing a $1.7 billion share buyback. Shares of ICICI Bank (up 0.22%) recouped in the late afternoon and ended in green while Axis Bank closed 0.02% lower.

The Sensex was up 23 points or 0.07 percent at 31,928 and Nifty was at 9,879, up 6 points or 0.06 percent.

Bharti Airtel was among the worst hit by plunging 2.05 per cent. Bharti Airtel was among the worst hit by plunging 2.05 per cent. Idea Cellular and Reliance Communications slumped up to 3.32 per cent.

On BSE, 997 stocks were advancing whereas 496 stocks were lagging. Shares of Dish TV India tumbled as much as 8.56% to Rs 75.75, Sun TV Network stocks declined 4.8% to Rs 788, Eros Media fell 4.1% to Rs 224.25 and Hathaway Digital & Datacom also plunged 4.87% to Rs 33.2.

The IT sub-index of NSE, Nifty IT, surged 1.88 per cent as Wipro earnings boosted sentiment for other IT stocks like HCL Tech, which will report its earnings next week.


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