Sensex extends gain, Nifty above 11,600

Indian markets gained during the early trade on Friday as investors bought company shares with significant business in Britain after EU and Britain reached a new Brexit.

Sensex extended gains after it surpassed the 39,000 mark on Thursday. At 10.21am, it was up 133.25 points higher at 39,185.31.

It opened with marginal gains at 39,087.83 from its Thursday’s close of 39,052.06.

The broader Nifty50 gained 32.90 points to 11,619.25. Markets have gained for 5 consecutive sessions, on which Sameet Chavan of Angel Broking said that markets overall breadth has improved drastically and the institutional buyers are finally participating.

Meanwhile, heavy electrical equipment maker Bharat Heavy Electricals Ltd(BHEL) on Friday gained over 22 per cent on the BSE over reports that the government may soon divest its stake in the company.

BHEL scrips on the BSE had surged as much as 29.29 per cent to hit an intra-day high of Rs 57.60 apiece before closing at Rs 54.45 a share.

“Shares of state-run BHEL jumped the most in a decade and NMDC rose nearly 6.5 per cent after reports that a group of secretaries would meet on Friday to consider lowering the government’s holdings in public sector companies below 51 per cent,” said Deepak Jasani of HDFC Securities.

IANS had earlier reported that the state-owned BHEL may sell four to five units of its non-core manufacturing business under the government’s asset monetisation programme during the ongoing financial year.

Indo-Asian News Service