Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.
The Dow Jones Industrial Average rose 92.39 points, or 0.36%, to 25,827.36, the S&P 500 gained 14.15 points, or 0.45%, to 3,130.01 and the Nasdaq Composite added 53.00 points, or 0.52%, to 10,207.63.
Crude prices fell on Friday as the resurgence of the coronavirus globally and in the United States, the world’s largest oil consumer, dimmed the prospects of fuel demand recovery.
US adds 4.8 million jobs as unemployment falls to 11.1%.
China's services sector grows at fastest pace in over a decade in June: Caixin PMI
India's trade deficit with China reduces to $48.66 billion in FY20.
🎯 News & Impact 🎯
Major Results Today : Indiabulls Housing Finance, SAIL
🎯 HDFC Life : To be replaced vedanta in the Nifty 50 index from July 31.
🎯 JB Chemicals : KKR to acquire controlling stake in the company. Promoters to sell 4.17 crore shares or 54% of the total voting share capital for Rs 3,109 crore.
🎯 Defence Related Stocks : Ministry of Defence cleared proposals worth Rs 38,900 crore on Thursday. This includes acquisitions from Indian industry worth Rs 31,300 crore. The panel also approved proposal to procure 21 Mig-29 plans along with upgrading the existing 59 Mig-29 aircrafts. Positive for HAL, BEL, Bharat Forge, Astra Micro, M&M, Ashok Leyland.
🎯 Reliance Industries : Intel Corp will invest Rs 1,894.5 crore in JioPlatforms in exchange for a 0.39 percent stake, the latest big-ticket investment in the digital unit of Reliance Industries (RIL). The deal with Intel — the 12th such investment in 11 weeks —takes the total stake that Reliance sold in Jio Platforms to 25.09 percent. Positive for the stock. 👍
🎯 Cadila Healthcare : Covid-19 vaccine by Zydus gets regulatory approval to initiate Phase I/II human clinical trials in India. The company plans to start human clinical trials in July 2020. Positive for the stock. 👍
🎯 Arrow Greentech : Subsidiary Avery Pharmaceuticals received licenses from FDCA, Gujarat to manufacture for sale (or for distribution) of drugs for the specific applied drugs. Positive for the stock. 👍
🎯 HUL and Emami : HUL to rename fair and lovely range of products to glow and lovely while the men's range will be renamed as glow and handsome.
🎯 Axis Bank : To wind down operations of Axis Bank U.K. and target the surrendering of the banking licence by April 2021. Negative for the stock.
🎯 Affle India: To acquire 8% stake in OSLabs for $2.86 million. OSLabs operates Indus App Bazaar, which is India’s largest independent indigenous apps store and partners with OEMs in India.
🎯 GPT Infra : Gets order worth Rs 102.8 crore from NHAI. Positive for the stock. 👍
🎯 Compuage Infocom : Zhejiang Dahua Technology appointed company as a distributor partner for its entire distribution range of CCTV surveillance and video management solution products in four major states of India.
🎯 Excel Industries : Stopped manufacturing activities of its Roha plant till July 5, due to increase in Covid-19 patients near the area.
🎯 Motherson Sumi’s Group Restructuring : Board of Directors approve reorganisation plan. To demerge Domestic Wiring Harness business from Motherson Sumi into a new company, which is in the process of being incorporated into a wholly-owned subsidiary. For every one share of Motherson Sumi, one share of the new company will be allotted.
🎯 Ramkrishna Forgings : Promoter Riddhi Portfolio Services released pledge of 1.6 lakh shares on June 29. Positive for the stock. 👍
🎯 Max Financial Services : Company created pledge on additional 4.35 lakh shares (0.16 percent) on July 2. Negative for the stock.
🎯 Nocil : Promoter Mafatlal Industries released pledge of 13.07 lakh shares on July 2. Positive for the stock. 👍
🎯 NCL Industries : Company created a pledge on additional 70,455 shares (or 0.16 percent stake) for working capital loan.
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Edited by Sharp.
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