However, the market breadth closed negative as about 1,425 shares declined against 1,254 advancing shares on the BSE.
IT major Wipro jumped by 10.37 percent to Rs 286.40 after the company at the time of announcing Q1 results said that its board approved buyback of shares up to Rs 11000 crore.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,035.88 points, closed at 32,028.89 points - up 124.49 points, or 0.39 per cent, from the previous close at 31,904.40 points. Shares of Wipro and Reliance Industries remain in the lead gainers on the benchmark Sensex today.
Wipro shares spiked today after the company announced a mega share buyback plan worth up to Rs 11,000 crore.
Wipro shares were trading higher by almost 8 per cent as the country's third-largest IT outsourcer has announced a second buyback in two years, of 343.75 million shares, which is about 7 per cent of the equity, aggregating a payout of ₹11,000 crore. During the day, it soared 8.17 per cent to Rs 291 its 52-week high. Both the indices ended the week with marginal gains.
Indian shares gained on Friday, led by blue-chip Reliance Industries after the petrochemicals-to-retail conglomerate reported a better-than- expected quarterly earnings and announced a low-priced, 4G-enabled phone.
Other telecom stocks which came under pressure after the announcement are Reliance Communications down 2.45% to Rs 23.85, Tata Communications down 2.31% to Rs 651.9, Tata Teleservices Maharashtra fell 2.4% to Rs 7.33.
Sectoral indices on NSE are trading with mixed sentiments wherein Metal and Pharma indices are top losing indices and Nifty IT is the only index which is trading in the positive territory. The company also said that its telecom arm Reliance Jio will introduce a Rs 20,000 rights issue.