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Benchmarks crawl higher in lackluster trade
(15:31, 07 Aug 2020)

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Barometers-ended-a-lackluster-session-with-tiny-gains-on-Friday.-Gains-in-banks,-FMCG-and-auto-stocks-were-negated-by-losses-in-IT-and-pharma-counters.-The-Nifty-managed-to-close-near-its-crucial-11,200-mark.

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-gained-15.12-points-or-0.04%-at-38,040.57.-The-Nifty-50-index-rose-15.8-points-or-0.14%-at-11,215.70.

Shares-in-the-broader-market-were-in-demand.-The-S&P-BSE-Mid-Cap-index-gained-1.44%-while-the-S&P-BSE-Small-Cap-index-advanced-0.78%.

The-market-breadth-was-strong.-On-the-BSE,-1666-shares-rose-and-1039-shares-fell.-A-total-of-148-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-637.43-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-468-crore-in-the-Indian-equity-market-on-6-August-2020,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-1,91,01,222-with-7,15,013-deaths.-India-reported-6,07,384-active-cases-of-COVID-19-infection-and-41,585-deaths-while-13,78,105-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Economy:

The-consumer-confidence-fell-to-a-record-low-level-in-July-2020.-Sentiment-had-been-steadily-falling-since-the-government-imposed-lockdown-in-late-March-and-collapsed-further-in-July-to-reach-53.8,-the-Reserve-Bank-of-India-said-in-a-report-on-Thursday.-The-index-is-well-below-the-100-mark,-which-represents-the-dividing-line-between-pessimism-and-optimism.

Results-Today:

Cipla-was-down-0.82%-ahead-of-its-quarterly-earnings-today.

Abbott-India-(up-0.36%),-Bata-India-(down-0.46%),-Amara-Raja-Batteries-(down-0.42%),-CONCOR-(down-0.41%),-Siemens-(down-0.71%)-and-The-Ramco-Cements-(up-0.47%)-will-also-announce-their-quarterly-results-today.

Earnings-Impact:

HPCL-fell-1.30%.-The-company's-standalone-net-profit-soared-247%-to-₹-2,813.83-crore-on-47%-drop-in-net-sales-to-₹-37,498.23-crore-in-Q1-June-2020-over-Q1-June-2019.-Average-gross-refining-margin-during-the-quarter-ended-30-June-2020-was-at-$0.04-per-bbl-(barrel-of-oil)-as-against-$0.75-per-bbl-during-30-June-2019.-The-COVID-19-pandemic-is-globally-inflicting-high-economic-and-human-costs-causing-slowdown-of-economic-activity.-With-regards-to-HPCL,-it-did-have-impact-on-the-sales-in-April-and-May-2020,-although-substantial-recovery-was-seen-in-June-2020.-Being-essential-commodity,-there-have-been-no-major-disruption-in-refining-operations-including-in-supply-chain,-even-during-the-lockdown-period.-The-PSU-OMC-stated-that-the-impact-assessment-of-pandemic-is-a-continuing-process-given-the-uncertainties-associated-with-its-nature-and-duration.

Lupin-dropped-5.90%-after-its-consolidated-net-profit-tumbled-96.5%-to-₹-106.9-crore-on-a-9.1%-decline-in-sales-to-₹-3,468.6-crore-in-Q1-FY21-over-Q1-FY20.-In-the-first-quarter,-the-formulations-business-revenue-was-at-₹-3,059.6-crore-(down-11.7%-YoY)-while-the-API-business-revenue-came-in-at-₹-409-crore-(up-17.2%-YoY).-EBITDA-fell-34.7%-to-₹-531.4-crore-in-Q1-June-2020-from-₹-813.4-crore-in-Q1-June-2019.-EBITDA-margin-was-at-15.3%-as-on-30-June-2020-as-against-21.3%-as-on-30-June-2019.-Lupin's-Global-API-sales-for-Q1-FY21-were-₹-409-crore,-compared-to-sales-of-₹-328.60-crore-during-Q4-FY20-and-up-17%-compared-to-sales-of-₹-348.90-crore-during-Q1-FY20;-accounting-for-12%-of-Lupin's-global-sales.

Mahindra-&-Mahindra-(M&M)-fell-1.43%-after-the-company-reported-97%-drop-in-net-profit-to-₹-68-crore-in-Q1-June-2020-from-₹-2260-crore-in-Q1-June-2019.-Revenues-during-the-quarter-declined-56%-year-on-year-(YoY)-to-₹-5,589-crore.-Profit-before-tax-stood-at-₹-49-crore-in-Q1-FY21,-down-by-96%-from-₹-1,371-crore-in-Q1-FY20.-The-results-include-the-combined-earnings-of-M&M-and-Mahindra-Vehicle-Manufacturers-(MVML),-which-is-a-manufacturing-unit-of-M&M.-While-the-total-vehicle-sales-were-down-by-78%-to-27,565-units,-tractor-sales-fell-22%-to-64,140-units-in-Q1-June-2020-over-Q1-June-2019.-Total-exports-(vehicles-and-tractors)-during-the-June-quarter-tumbled-72%-YoY-to,-3,109-units.-M&M-said-that-the-timely-relaxation-of-the-lockdown-for-the-agricultural-sector-along-with-positive-rural-sentiment-led-to-good-sales-numbers-for-tractors-during-the-quarter-despite-the-supply-chain-issues,-showing-a-positive-growth-rates-in-May-and-June-2020.

Mahanagar-Gas-fell-1.59%-to-₹-968.05-after-the-city-gas-provider's-net-profit-declined-73.42%-to-₹-45.25-crore-on-a-65.45%-fall-in-net-revenue-from-operations-to-₹-261.75-crore-in-Q1-FY21-over-Q1-FY20.-EBIDTA-decreased-by-71.11%-to-₹-79.99-crore-in-Q1-June-2020-from-₹-276.83-crore-in-Q1-June-2019.-EBIDTA-margin-was-at-30.56%-as-on-30-June-2020-as-against-36.55%-as-on-30-June-2019.-CNG-sales-volumes-contracted-by-77.81%-to-43.70-SCM-Million-in-Q1-FY21-from-196.95-SCM-Million-in-Q1-FY20.-PNG-sales-volumes-declined-by-21.22%-to-57.59-SCM-Million-in-Q1-June-2020-from-73.11-SCM-Million-in-Q1-June-2019.-Consequently,-MGL's-total-volumes-as-on-30-June-2020-were-at-101.30-SCM-Million,-down-by-62.49%-from-270.06-SCM-Million-as-on-30-June-2019.

Pidilite-Industries-rallied-3.3%.-The-company-reported-90.86%-drop-in-consolidated-net-profit-to-₹-26.78-crore-on-56.32%-fall-in-total-income-to-₹-898.31-crore-in-Q1-June-2020-over-Q1-June-2019.-Consolidated-EBITDA-before-non-operating-income-in-Q1-June-2020-stood-at-₹-67-crore,-registering-a-decline-of-85%-over-the-same-quarter-last-year.-Consolidated-profit-before-tax-stood-came-at-₹-31.67-crore-in-Q1-June-2020,-significantly-lower-than-₹-438.81-crore-posted-in-the-same-period-last-year.-Pidilite-said-Q1-performance-was-significantly-impacted-by-continued-lockdowns-due-to-the-pandemic.-On-an-overall-basis,-the-company-had-a-near-complete-closure-in-April-2020-with-recovery-from-May-2020-onwards-(broadly-50%-of-outlets-being-open)-and-June-(saw-broadly-80%-of-outlets-open).-The-company-assured-recovery-has-continued-in-July.

Adani-Enterprises-rose-3.93%.-The-company's-consolidated-net-loss-stood-at-₹-148.65-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-498.67-crore-in-Q1-June-2019.-Consolidated-net-sales-tanked-50.1%-to-₹-5,265.19-crore-in-Q1-June-2020-as-against-₹-10,561.37-crore-in-Q1-June-2019.-Volumes-across-the-segments-were-impacted-owing-to-lower-power-demand-and-logistics-issues-due-to-COVID-19-pandemic.-EBIDTA-for-the-quarter-dropped-66.40%-to-₹-301-crore-in-Q1-FY21-from-₹-896-crore-in-Q1-FY20.-With-continued-lockdown-and-restrictions-during-this-quarter,-Adani-Enterprises'-volumes-across-business-segments-have-been-affected.-The-company-resumed-its-operations-following-government-guidelines.-The-operational-performance-of-the-businesses-continue-to-recover-in-phased-manner-towards-pre-COVID-19-level.

Vodafone-Idea-jumped-7.15%.-The-telco-reported-a-consolidated-net-loss-of-₹-25,460-crore-in-Q1-FY21,-higher-than-net-loss-of-₹-4,873.90-crore-in-Q1-FY20.-Gross-revenue-in-Q1-June-2020-stood-at-₹-10,659.30-crore,-down-by-5.4%-from-₹-11,269.90-crore-in-Q1-June-2019.-Average-revenue-per-user-(ARPU)-blended-rose-5.6%-to-₹-114-in-Q1-June-2020-from-₹-108-in-Q1-June-2019.-Sequentially,-however,-ARPU-declined-5.8%-from-₹-121-in-Q4-March-2020.-The-company's-total-data-subscribers-decreased-5.3%-to-13.57-crore-customers-in-Q1-June-2020-from-14.33-crore-customers-in-Q1-June-2019.-The-teleco-recorded-an-exceptional-expense-of-₹-19,923.20-crore-during-the-first-quarter.-Of-the-total-sum,-₹-19,440.50-crore-is-for-license-fees-and-SUC-(spectrum-usage-charges)-on-AGR-(adjusted-gross-revenues)-and-₹-123-crore-is-for-one-time-spectrum-charge-(including-interest).-Vodafone-Idea's-independent-auditor's-review-report-highlighted-the-company's-material-uncertainty-on-going-concern.

JK-Tyre-&-Industries-fell-2.38%.-The-tyre-manufacturer-reported-a-consolidated-net-loss-of-₹-198.85-crore-in-Q1-FY21-compared-with-net-profit-of-₹-16.91-crore-in-Q1-FY20.-Revenue-from-operations-fell-56.1%-to-₹-1,130.80-crore-in-Q1-June-2020-from-₹-2,575.39-crore-in-Q1-June-2019.-India-business-revenue-were-at-₹-1,067.39-crore-(down-52.8%-Y-o-Y)-while-the-revenue-from-the-Mexico-business-was-at-₹-84.48-crore-(down-75.1%-Y-o-Y)-in-the-first-quarter.-The-company-recorded-an-exceptional-expenditure-of-₹-32.91-crore-during-the-quarter.-Of-this,-₹-31.78-crore-is-on-account-of-unfavourable-foreign-exchange-fluctuation-and-₹-1.13-crore-is-due-to-VRS.

Global-Markets:

European-markets-were-trading-lower-while-most-Asian-stocks-declined-on-Friday.-The-Dow-Jones-30-Futures-were-trading-152-points-lower,-indicating-a-weak-opening-in-US-markets-today.

In-US,-shares-on-Wall-Street-shrugged-off-a-sluggish-start-and-closed-higher-on-Thursday,-with-the-Nasdaq-ending-the-session-above-11,000-for-the-first-time-as-investors-hoped-for-a-new-fiscal-stimulus-package.

Investors-remain-hopeful-that-lawmakers-can-strike-a-deal-on-a-fresh-round-of-coronavirus-relief-for-those-Americans-out-of-work,-while-both-Senate-Majority-Leader-Mitch-McConnell-and-House-Speaker-Nancy-Pelosi-said-they-remained-optimistic-on-an-agreement.

Meanwhile,-investors-took-heart-after-the-number-of-Americans-filing-for-jobless-benefits-for-the-week-ended-Aug.-1-fell-to-a-three-week-low-of-1.186-million,-a-decline-of-249,000-from-the-previous-week's-reading-of-1.435-million.-The-number-of-people-receiving-traditional-jobless-benefits-through-the-states,-known-as-continuing-claims,-dropped-by-a-seasonally-adjusted-844,000-to-16.1-million-in-the-week-ended-July-25.

US-President-Donald-Trump-said-on-Thursday-it-was-possible-the-United-States-would-have-a-coronavirus-vaccine-before-the-November-election,-a-far-more-optimistic-forecast-than-timing-put-forth-by-White-House-health-experts.

Meanwhile,-signs-of-growing-China-U.S.-tensions-were-evident-as-Secretary-of-State-Mike-Pompeo-reportedly-asked-American-companies-to-consider-withholding-their-apps-from-phones-made-by-China's-Huawei-Technologies.-Those-comments-come-as-the-U.S.-has-threatened-to-ban-China-owned-entertainment-applications-TikTok-unless-Microsoft-Corp.-can-strike-a-deal-to-buy-all-or-part-of-the-company-from-ByteDance.

President-Donald-Trump-issued-executive-orders-on-Thursday-regarding-the-ban-on-transactions-with-WeChat-and-TikTok-in-45-days.-The-move-sent-shares-of-Tencent-(which-owns-WeChat)-tumble-by-7%-in-Hong-Kong-market-on-Friday.

Powered-by-Capital-Market---Live-News

Barometers-ended-a-lackluster-session-with-tiny-gains-on-Friday.-Gains-in-banks,-FMCG-and-auto-stocks-were-negated-by-losses-in-IT-and-pharma-counters.-The-Nifty-managed-to-close-near-its-crucial-11,200-mark.

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-gained-15.12-points-or-0.04%-at-38,040.57.-The-Nifty-50-index-rose-15.8-points-or-0.14%-at-11,215.70.

Shares-in-the-broader-market-were-in-demand.-The-S&P-BSE-Mid-Cap-index-gained-1.44%-while-the-S&P-BSE-Small-Cap-index-advanced-0.78%.

The-market-breadth-was-strong.-On-the-BSE,-1666-shares-rose-and-1039-shares-fell.-A-total-of-148-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-637.43-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-468-crore-in-the-Indian-equity-market-on-6-August-2020,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-1,91,01,222-with-7,15,013-deaths.-India-reported-6,07,384-active-cases-of-COVID-19-infection-and-41,585-deaths-while-13,78,105-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Economy:

The-consumer-confidence-fell-to-a-record-low-level-in-July-2020.-Sentiment-had-been-steadily-falling-since-the-government-imposed-lockdown-in-late-March-and-collapsed-further-in-July-to-reach-53.8,-the-Reserve-Bank-of-India-said-in-a-report-on-Thursday.-The-index-is-well-below-the-100-mark,-which-represents-the-dividing-line-between-pessimism-and-optimism.

Results-Today:

Cipla-was-down-0.82%-ahead-of-its-quarterly-earnings-today.

Abbott-India-(up-0.36%),-Bata-India-(down-0.46%),-Amara-Raja-Batteries-(down-0.42%),-CONCOR-(down-0.41%),-Siemens-(down-0.71%)-and-The-Ramco-Cements-(up-0.47%)-will-also-announce-their-quarterly-results-today.

Earnings-Impact:

HPCL-fell-1.30%.-The-company's-standalone-net-profit-soared-247%-to-₹-2,813.83-crore-on-47%-drop-in-net-sales-to-₹-37,498.23-crore-in-Q1-June-2020-over-Q1-June-2019.-Average-gross-refining-margin-during-the-quarter-ended-30-June-2020-was-at-$0.04-per-bbl-(barrel-of-oil)-as-against-$0.75-per-bbl-during-30-June-2019.-The-COVID-19-pandemic-is-globally-inflicting-high-economic-and-human-costs-causing-slowdown-of-economic-activity.-With-regards-to-HPCL,-it-did-have-impact-on-the-sales-in-April-and-May-2020,-although-substantial-recovery-was-seen-in-June-2020.-Being-essential-commodity,-there-have-been-no-major-disruption-in-refining-operations-including-in-supply-chain,-even-during-the-lockdown-period.-The-PSU-OMC-stated-that-the-impact-assessment-of-pandemic-is-a-continuing-process-given-the-uncertainties-associated-with-its-nature-and-duration.

Lupin-dropped-5.90%-after-its-consolidated-net-profit-tumbled-96.5%-to-₹-106.9-crore-on-a-9.1%-decline-in-sales-to-₹-3,468.6-crore-in-Q1-FY21-over-Q1-FY20.-In-the-first-quarter,-the-formulations-business-revenue-was-at-₹-3,059.6-crore-(down-11.7%-YoY)-while-the-API-business-revenue-came-in-at-₹-409-crore-(up-17.2%-YoY).-EBITDA-fell-34.7%-to-₹-531.4-crore-in-Q1-June-2020-from-₹-813.4-crore-in-Q1-June-2019.-EBITDA-margin-was-at-15.3%-as-on-30-June-2020-as-against-21.3%-as-on-30-June-2019.-Lupin's-Global-API-sales-for-Q1-FY21-were-₹-409-crore,-compared-to-sales-of-₹-328.60-crore-during-Q4-FY20-and-up-17%-compared-to-sales-of-₹-348.90-crore-during-Q1-FY20;-accounting-for-12%-of-Lupin's-global-sales.

Mahindra-&-Mahindra-(M&M)-fell-1.43%-after-the-company-reported-97%-drop-in-net-profit-to-₹-68-crore-in-Q1-June-2020-from-₹-2260-crore-in-Q1-June-2019.-Revenues-during-the-quarter-declined-56%-year-on-year-(YoY)-to-₹-5,589-crore.-Profit-before-tax-stood-at-₹-49-crore-in-Q1-FY21,-down-by-96%-from-₹-1,371-crore-in-Q1-FY20.-The-results-include-the-combined-earnings-of-M&M-and-Mahindra-Vehicle-Manufacturers-(MVML),-which-is-a-manufacturing-unit-of-M&M.-While-the-total-vehicle-sales-were-down-by-78%-to-27,565-units,-tractor-sales-fell-22%-to-64,140-units-in-Q1-June-2020-over-Q1-June-2019.-Total-exports-(vehicles-and-tractors)-during-the-June-quarter-tumbled-72%-YoY-to,-3,109-units.-M&M-said-that-the-timely-relaxation-of-the-lockdown-for-the-agricultural-sector-along-with-positive-rural-sentiment-led-to-good-sales-numbers-for-tractors-during-the-quarter-despite-the-supply-chain-issues,-showing-a-positive-growth-rates-in-May-and-June-2020.

Mahanagar-Gas-fell-1.59%-to-₹-968.05-after-the-city-gas-provider's-net-profit-declined-73.42%-to-₹-45.25-crore-on-a-65.45%-fall-in-net-revenue-from-operations-to-₹-261.75-crore-in-Q1-FY21-over-Q1-FY20.-EBIDTA-decreased-by-71.11%-to-₹-79.99-crore-in-Q1-June-2020-from-₹-276.83-crore-in-Q1-June-2019.-EBIDTA-margin-was-at-30.56%-as-on-30-June-2020-as-against-36.55%-as-on-30-June-2019.-CNG-sales-volumes-contracted-by-77.81%-to-43.70-SCM-Million-in-Q1-FY21-from-196.95-SCM-Million-in-Q1-FY20.-PNG-sales-volumes-declined-by-21.22%-to-57.59-SCM-Million-in-Q1-June-2020-from-73.11-SCM-Million-in-Q1-June-2019.-Consequently,-MGL's-total-volumes-as-on-30-June-2020-were-at-101.30-SCM-Million,-down-by-62.49%-from-270.06-SCM-Million-as-on-30-June-2019.

Pidilite-Industries-rallied-3.3%.-The-company-reported-90.86%-drop-in-consolidated-net-profit-to-₹-26.78-crore-on-56.32%-fall-in-total-income-to-₹-898.31-crore-in-Q1-June-2020-over-Q1-June-2019.-Consolidated-EBITDA-before-non-operating-income-in-Q1-June-2020-stood-at-₹-67-crore,-registering-a-decline-of-85%-over-the-same-quarter-last-year.-Consolidated-profit-before-tax-stood-came-at-₹-31.67-crore-in-Q1-June-2020,-significantly-lower-than-₹-438.81-crore-posted-in-the-same-period-last-year.-Pidilite-said-Q1-performance-was-significantly-impacted-by-continued-lockdowns-due-to-the-pandemic.-On-an-overall-basis,-the-company-had-a-near-complete-closure-in-April-2020-with-recovery-from-May-2020-onwards-(broadly-50%-of-outlets-being-open)-and-June-(saw-broadly-80%-of-outlets-open).-The-company-assured-recovery-has-continued-in-July.

Adani-Enterprises-rose-3.93%.-The-company's-consolidated-net-loss-stood-at-₹-148.65-crore-in-Q1-June-2020-compared-with-net-profit-of-₹-498.67-crore-in-Q1-June-2019.-Consolidated-net-sales-tanked-50.1%-to-₹-5,265.19-crore-in-Q1-June-2020-as-against-₹-10,561.37-crore-in-Q1-June-2019.-Volumes-across-the-segments-were-impacted-owing-to-lower-power-demand-and-logistics-issues-due-to-COVID-19-pandemic.-EBIDTA-for-the-quarter-dropped-66.40%-to-₹-301-crore-in-Q1-FY21-from-₹-896-crore-in-Q1-FY20.-With-continued-lockdown-and-restrictions-during-this-quarter,-Adani-Enterprises'-volumes-across-business-segments-have-been-affected.-The-company-resumed-its-operations-following-government-guidelines.-The-operational-performance-of-the-businesses-continue-to-recover-in-phased-manner-towards-pre-COVID-19-level.

Vodafone-Idea-jumped-7.15%.-The-telco-reported-a-consolidated-net-loss-of-₹-25,460-crore-in-Q1-FY21,-higher-than-net-loss-of-₹-4,873.90-crore-in-Q1-FY20.-Gross-revenue-in-Q1-June-2020-stood-at-₹-10,659.30-crore,-down-by-5.4%-from-₹-11,269.90-crore-in-Q1-June-2019.-Average-revenue-per-user-(ARPU)-blended-rose-5.6%-to-₹-114-in-Q1-June-2020-from-₹-108-in-Q1-June-2019.-Sequentially,-however,-ARPU-declined-5.8%-from-₹-121-in-Q4-March-2020.-The-company's-total-data-subscribers-decreased-5.3%-to-13.57-crore-customers-in-Q1-June-2020-from-14.33-crore-customers-in-Q1-June-2019.-The-teleco-recorded-an-exceptional-expense-of-₹-19,923.20-crore-during-the-first-quarter.-Of-the-total-sum,-₹-19,440.50-crore-is-for-license-fees-and-SUC-(spectrum-usage-charges)-on-AGR-(adjusted-gross-revenues)-and-₹-123-crore-is-for-one-time-spectrum-charge-(including-interest).-Vodafone-Idea's-independent-auditor's-review-report-highlighted-the-company's-material-uncertainty-on-going-concern.

JK-Tyre-&-Industries-fell-2.38%.-The-tyre-manufacturer-reported-a-consolidated-net-loss-of-₹-198.85-crore-in-Q1-FY21-compared-with-net-profit-of-₹-16.91-crore-in-Q1-FY20.-Revenue-from-operations-fell-56.1%-to-₹-1,130.80-crore-in-Q1-June-2020-from-₹-2,575.39-crore-in-Q1-June-2019.-India-business-revenue-were-at-₹-1,067.39-crore-(down-52.8%-Y-o-Y)-while-the-revenue-from-the-Mexico-business-was-at-₹-84.48-crore-(down-75.1%-Y-o-Y)-in-the-first-quarter.-The-company-recorded-an-exceptional-expenditure-of-₹-32.91-crore-during-the-quarter.-Of-this,-₹-31.78-crore-is-on-account-of-unfavourable-foreign-exchange-fluctuation-and-₹-1.13-crore-is-due-to-VRS.

Global-Markets:

European-markets-were-trading-lower-while-most-Asian-stocks-declined-on-Friday.-The-Dow-Jones-30-Futures-were-trading-152-points-lower,-indicating-a-weak-opening-in-US-markets-today.

In-US,-shares-on-Wall-Street-shrugged-off-a-sluggish-start-and-closed-higher-on-Thursday,-with-the-Nasdaq-ending-the-session-above-11,000-for-the-first-time-as-investors-hoped-for-a-new-fiscal-stimulus-package.

Investors-remain-hopeful-that-lawmakers-can-strike-a-deal-on-a-fresh-round-of-coronavirus-relief-for-those-Americans-out-of-work,-while-both-Senate-Majority-Leader-Mitch-McConnell-and-House-Speaker-Nancy-Pelosi-said-they-remained-optimistic-on-an-agreement.

Meanwhile,-investors-took-heart-after-the-number-of-Americans-filing-for-jobless-benefits-for-the-week-ended-Aug.-1-fell-to-a-three-week-low-of-1.186-million,-a-decline-of-249,000-from-the-previous-week's-reading-of-1.435-million.-The-number-of-people-receiving-traditional-jobless-benefits-through-the-states,-known-as-continuing-claims,-dropped-by-a-seasonally-adjusted-844,000-to-16.1-million-in-the-week-ended-July-25.

US-President-Donald-Trump-said-on-Thursday-it-was-possible-the-United-States-would-have-a-coronavirus-vaccine-before-the-November-election,-a-far-more-optimistic-forecast-than-timing-put-forth-by-White-House-health-experts.

Meanwhile,-signs-of-growing-China-U.S.-tensions-were-evident-as-Secretary-of-State-Mike-Pompeo-reportedly-asked-American-companies-to-consider-withholding-their-apps-from-phones-made-by-China's-Huawei-Technologies.-Those-comments-come-as-the-U.S.-has-threatened-to-ban-China-owned-entertainment-applications-TikTok-unless-Microsoft-Corp.-can-strike-a-deal-to-buy-all-or-part-of-the-company-from-ByteDance.

President-Donald-Trump-issued-executive-orders-on-Thursday-regarding-the-ban-on-transactions-with-WeChat-and-TikTok-in-45-days.-The-move-sent-shares-of-Tencent-(which-owns-WeChat)-tumble-by-7%-in-Hong-Kong-market-on-Friday.

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