Indian shares edged up on Thursday with IT stocks leading the gains after Tata Consultancy Services Ltd
Shares of TCS, the country's biggest software services exporter, rose as much as 2.7 percent to their highest since Sept 7, 2016, heading for their 10th session of gains in 12 this month.
"It (the share buyback news) will set a floor for the stock in the near term... May improve sentiment for other IT stocks but will be a short-term impact," said Dipen Shah, senior vice president and head of private client group research, Kotak Securities.
The Nifty IT index rose as much as 1.6 percent to a more than five-month high with Infosys
The broader NSE Nifty was up 0.15 percent at8,737.90 as of 0529 GMT, while the benchmark BSE Sensex was 0.1 percent higher at 28,178.43.
Among other leading gainers, State Bank of India
Sun Pharmaceutical Industries Ltd
Among losers, Dr.Reddy's Laboratories Ltd