Wall Street's main indexes opened higher on Friday after a softer-than-expected jobs report revived hopes of the Federal Reserve cutting interest rates this year, while gains in Apple and Amgen on upbeat corporate updates added support. The Dow Jones Industrial Average rose 483.7 points, or 1.27%, at the open to 38,709.36. The S&P 500 rose 58.6 points, or 1.16%, at the open to 5,122.78,.
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Shares of IT company Newgen Software extended their winning streak for the ninth consecutive session surging 35% during the period to hit a lifetime record-high mark during intraday on Friday, May 3. Newgen Software has given multi bagger returns to investors over the last 1-3 year time periods. During the March quarter, its net profit surpassed the ₹100 crore- mark for the first time ever.
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Motilal Oswal's research report on Atul. Management highlighted that there was pricing pressure, although volumes have improved in some of the businesses that have done well throughout FY24. A couple of subsidiaries have suffered losses at the PBT level, which has led to a decline in earnings of the consolidated entity.
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