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The
benchmark indices settled lower on Tuesday amid a weakening rupee, which
fell to its fresh record low for the third straight session earlier in the day.The
S&P BSE Sensex ended at 38,158, down 155 points while the broader Nifty50
index settled at 11,520, down 62 points.The Indian currency slipped to a new
record low of 71.50 per dollar in intra-day trade. It has declined 3.3 per
cent in August and over 10 per cent so far in year-to-date, to emerge as
the worst-performing currency in Asia.In individual stocks, banking shares such
as HDFC Bank, State Bank of India (SBI), IndusInd Bank and ICICI Bank fell in
the range of 1 per cent to 3.3 per cent.Among sectoral indices, the Nifty IT
index rose around 2 per cent led by a rise in Infosys, HCL
Technologies, and Tata Consultancy Services (TCS) TCS share
buyback offer will open on Thursday, September 06, 2018 and closes on
Friday, September 21, 2018. The company plans to buyback 76.19 million shares from the equity shareholders / beneficial owners of equity shares as on August 18, 2018, on a proportionate basis by way of a Tender Offer route through stock exchange mechanism. It has fixed a share buyback at a price of Rs 2,100 per equity share payable in cash for an aggregate consideration not exceeding Rs 160 billionTCS said the current buyback is a capital allocation decision taken with the objective of improving the company’s Return on Equity and increasing shareholder value in the longer term
TOP GAINERS:TECHM,TCS,INFY,WIPRO
MAJORLOOSERS: GRASIM,ASIANPAINT,TITAN
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