Sensex holds 200 points gains; all sectoral indices in the green
Gold rose early Friday after slipping to a more than six-month low in the previous session, as the dollar retreated from recent highs amid a rising euro, but the yellow metal was on track for its worst month since November 2016.
Spot gold was 0.2 percent higher at $1,250.90 an ounce. On Thursday, it touched USD 1,245.32, its lowest since December 13, 2017.
Shares of Sun TV Network gained 2 percent intraday Friday as research house Nomura maintained buy rating with a target of Rs 1105 per share.
According to Nomura, the company is a key beneficiary of digitisation in Tamil Nadu.
The broking house believes that digitization is likely to drive 15-23 percent growth.
The stock is trading at 19x FY20F consolidated EPS and expect 20 percent EPS CAGR FY18-20F, it added
The market remained strong in morning with the Nifty holding 10,650 level on the very first day of July series, backed by oil, metals, infra and FMCG stocks.
The 30-share BSE Sensex gained 194.71 points at 35,232.35 and the 50-share NSE Nifty rose 64.00 points to 10,653.10. About three shares advanced for every share falling on the BSE.
Share price of Newgen Software Technologies rose 5.3 percent intraday as company received work order worth Rs 63.93 crore.
The company has received a work order for document management system (DMS) and digitization project of the records of District and Subordinate courts in the state of Maharashtra on turnkey basis, subject to approval of pilot phase.
This work order pertains to digitisation of Judicial Records for Rs 63,93,24,000.
The work order does not fall within the definition of related party transaction as specified in the companies Act, 2013.
The market extended its opening gains with the Nifty trading above 10,650 levels on the first day of July series, backed by metals, oil and banking & financials stocks.
The 30-share BSE Sensex rose 223.45 points to 35,261.09 and the 50-share NSE Nifty gained 71.80 points at 10,660.90. About four shares advanced for every share falling on the BSE.
The Nifty Midcap rose over a percent on short covering.
All sectoral indices are in the green with Metal and PSU Bank leading the charge with over 2 percent gains.
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