The market closed largely flat, with a positive bias, after recovering in the last trading hour with the BSE Sensex closing at 35,622 points and the NSE Nifty closing at 10,817 points. TCS gained more than 3% in trade after the board approved the buyback proposal of shares worth up to Rs 16,000 crore. The stock, along with Infosys, lifted the Nifty by 31 points towards the close. Pharma stocks surged in trade for the fifth day in a row. Idea Cellular, Hindalco, Yes Bank, SBI and UltraTech dragged the Nifty.

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(Above mentioned: Closing Bell as of 03:30 pm)

Market update as of 03:16 pm

The market bounced back into the green with the BSE Sensex trading at 35,640 points and the NSE Nifty trading at 10,823 points towards the close. This is after the TCS board approved the share buyback proposal of up to Rs 16,000 crore. TCS is gaining more than three percent after the announcement.

Market update as of 02:05 pm

The market is trading lower with the BSE Sensex trading at 35,458 points and the NSE Nifty trading at 10,772 points. The pharma stocks continue to rally for the fifth consecutive day and are the top index gainers along with UPL. Idea Cellular, Hindalco, Axis Bank, Yes Bank and ONGC are the top index losers.

Market update as of 01:04 pm

The market is edging lower in trade with the BSE Sensex trades at 35,507 points and the NSE Nifty trading at 10,782 points amid mixed global cues. The market has been trading largely flat since morning trade. The pharma stocks continue to rally for the fifth consecutive day.

Market update as of 12:37 pm

The market is trading flat with a negative bias with the BSE Sensex trading at 35,542 points and the NSE Nifty trading at 10,795 points ahead of the expected outcome of the US administration announcement on imposing import tariffs for Chinese goods. The pharma stocks continue to gain in trade along with UPL while Idea Cellular, HPCO, NTPC, Yes Bank and IndusInd Bank are the top index losers.

What has happened in the market so far?

The market was seen flat after slightly recovering from the flatline for a brief period with the BSE Sensex trading at 35,602 points and the NSE Nifty at 10,813 points as its global peers remain cautious of the likely US tariffs on select Chinese goods.

The market traded largely flat in the morning trade as well. The pharma stocks helped pull up the Nifty as they gain for the fifth consecutive day.

Dr Reddy's Labs, Lupin, Sun Pharma, Cipla and UPL were the top five Nifty gainers of the hour while Idea Cellular, NTPC, HPCL, Bharti Infratel and Yes Bank were the top five Nifty losers.

Tata Consultancy Services gained nearly a percent in trade ahead of the outcome of the board meeting where they will consider the share buyback proposal. The share buyback proposal is reportedly for Rs 10,000 crore worth of shares.

US President Trump has made up his mind to impose "pretty significant" tariffs on Chinese goods, an administration official said on Thursday, as Beijing warned that it was ready to respond if Washington chose to ratchet up trade tensions.

First Published:Jun 15, 2018 12:01 PM IST