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Markets edge up as IT stocks gain; Broader markets outperform

BSE Midcap and BSE Smallcap outperformed the frontline indices

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SI Reporter New Delhi
Benchmark indices gained in the afternoon trade led by IT stocks after TCS said its board would consider a share buyback plan at a meeting next week. The buyback, if approved in the board meeting, would be the company's first since its listing in 2004.
 
Asian markets surging to one-and-a-half year highs thanks to an extended rally on Wall Street and strong US data, also contributed to the gains.
 
At 1:18 pm, the S&P BSE Sensex was trading at 28,255, up 99 points, while the broader Nifty50 was ruling at 8,758, up 33 points. In the broader market,