Markets settle the day higher led by IT and pharma stocks

Sun Pharma was the biggest gainer among Sensex stocks, up 4% followed by Maruti, Infy and Tata Steel

Benchmark indices settled the day higher, with Sensex closing above 28,300 led by IT and pharma stocks. IT stocks ralled 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.
 
The S&P BSE Sensex settled the day at 28,301, up 145 points, while the broader Nifty50 was ended at 8,778,