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Market Wrap, January 9: Sensex rises for 4th straight day, gains 232 pts led by banks
Today On Market Wrap: 1. YES Bank cracks nearly 6% ahead of board meeting outcome 2. Infosys climbs 3% after co says board will consider share buyback on Jan 11 3. Sensex rises for 4th straight day, gains 232 pts led by banks
The frontline equity indices continued their winning momentum, gaining for the fourth straight session and settling around 0.5 per cent higher on Wednesday aided by gains in banking and fast-moving consumer goods (FMCG) stocks.
 
The S&P BSE Sensex ended at 36,213, up 232 points or 0.64 per cent, while the broader Nifty50 index settled at 10,855, up 53 points or 0.49 per cent.
 
Among the sectoral indices, the Nifty FMCG index rose 1.01 per cent led by gains in ITC and Dabur India. The Nifty Bank index too rose 0.77 per cent led by Axis Bank, HDFC Bank and ICICI Bank.
 
However, shares of YES Bank ended 3.02 per cent lower at Rs 186.55 on the National Stock Exchange (NSE) as the investors awaited the outcome of the bank's board meeting in regards to the appointment of the new managing director (MD) and chief executive officer (CEO).
 
The broader market indices, however, settled marginally in red with the S&P BSE Midcap ending at 15,122 levels, down 6 points or 0.04 per cent, while S&P BSE SmallCap slipped 24 points or 0.17 per cent to 14,601.
 
The rupee traded on a weak note during the day falling to 70.64 against the dollar in intra-day trade. The domestic unit had settled at 70.20 against the greenback on Tuesday.

Shares of IT major Infosys rose as much as 2.8 per cent at Rs 688.70 a piece on BSE in the early trade Wednesday after the company announced its board will consider a buyback programme and payment of special dividend, among other proposals, at its meeting on January 11.
 
According to the capital allocation policy approved by the shareholders in April last year, Infosys plans to give back around Rs 10,400 crore to shareholders by the end of this financial year. Under the current framework, it also plans to return up to 70 per cent of its free cash flow to shareholders, said a Business Standard report.