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“This kind of a marginal miss in terms of expectations, won’t be punished by the market”

The buyback size amounts to 1.08 per cent of the total paid-up equity share capital. The company said it will buy shares at Rs 4,500 per share, a premium of 16.67 per cent over the last trading price.

The partially convertible rupee opened at 73.78 against the US dollar on Wednesday as against 73.9050 at previous close. So far in the day, the Indian currency moved in a band of 73.76-73.80 versus the greenback.

The company said its revenue from operations increased 22.91 per cent year-on-year (YoY)to Rs 31,867 crore. The figure stood at Rs 25,927 crore in the same quarter last year.

In the international market, gold was trading marginally lower at $1,818 per ounce and silver was flat at $22.70 per ounce.

At the interbank forex market, the local unit witnessed an intra-day high of 73.78 and a low of 74.04 against the US dollar. It finally settled at 73.93, a rise of just 1 paisa over its previous close.

"Bullish on sectors more linked to investment as a theme or capex as a theme opposed to consumption, which from a stock perspective will struggle for some time."

The Nifty Realty index closed 1.91 per cent up at 507.45.

Mazhar Mohammad of Chartviewindia.in said Nifty50 confined its move to 91 points with an indecisive formation that resembled a Spinning Top. Usually, such moves with narrow intraday trading ranges make the index vulnerable to sudden falls, he said.

The 30-share pack Sensex rose 533.15 points or 0.88 per cent to close at 61,150.04. Its broader peer NSE Nifty50 climbed 156.60 points or 0.87 per cent to 18,212.35. Both indices are closer to their all-time high levels.