What changed for the market while you were sleeping? Top 10 things to know

The Indian stock market is expected to open in the green amid hopes of coronavirus vaccine. Trends on SGX Nifty indicate a gap-up opening for the index in India with a 174 points gain.

The BSE Sensex jumped 704.37 points or 1.68 percent to 42,597.43 on November 9 while the Nifty50 gained 197.50 points or 1.61 percent at 12,461. According to pivot charts, the key support levels for the Nifty is placed at 12,394.2, followed by 12,327.4. If the index moves up, the key resistance levels to watch out for are 12,500.9 and 12,540.8.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

The S&P 500 and the Dow rallied sharply but closed shy of their records on Monday as investors bet that a full economic reopening was finally in sight following the first positive data from a late-stage COVID-19 vaccine trial.

The Dow Jones Industrial Average rose 834.57 points, or 2.95%, to 29,157.97 in its biggest one-day percentage gain since June 5. The S&P 500 rose 41.06 points, or 1.17%, to 3,550.5 and the Nasdaq Composite dropped 181.45 points, or 1.53%, to 11,713.78.

Asian Markets

Global stocks and oil jumped and Treasuries sold off on Monday as progress in the development of a coronavirus vaccine lifted investor confidence in a world economic recovery.

Japan's Nikkei 225 rose 1.5% to a 29-year high in early trade and Australia's S&P/ASX 200 rose 1.4%. Hong Kong's Hang Seng index futures rose 1.85%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.12% higher.

SGX Nifty

Trends on SGX Nifty indicate a gap-up opening for the index in India with a 174 points gain. The Nifty futures were trading at 12,672 on the Singaporean Exchange around 07:30 hours IST.

Pfizer's COVID-19 vaccine is over 90% effective, shows data

Pfizer says an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, indicating the company is on track later this month to file an emergency use application with U.S. regulators. Pfizer Inc. did not provide any more details about those cases, and cautioned the initial protection rate might change by the time the study ends. Even revealing such early data is highly unusual.

“We’re in a position potentially to be able to offer some hope,” Dr. Bill Gruber, Pfizer’s senior vice president of clinical development, told The Associated Press. “We’re very encouraged.”

Oil prices drop

U.S. oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine.

U.S. West Texas Intermediate (WTI) crude futures dropped 81 cents, or 2%, to $39.48 a barrel at 0029 GMT. OPEC+ agreed to cut supply by 7.7 million barrels per day from August through December to help support prices and then ease the cut to 5.7 million bpd from January.

SEBI considering revamp of IPO rules on equity dilution: Sources

The Securities and Exchange Board of India (SEBI) is considering a reform of its initial public offer (IPO) regulations, three sources told Moneycontrol. The capital markets regulator may cut down the requirement of 10 percent equity dilution for IPOs that have more than Rs 4,000 crores of post-issue equity capital.

SEBI may reduce the dilution requirement from 10 percent to 5 percent for larger IPOs, the sources said. Currently, if the post-issue capital is more than Rs 4,000 crore, the dilution is10 percent. For less than Rs 4,000 crores of post-issue equity capital, equity dilution required is 25 percent.

SAT quashes SEBI's order directing Prabhat Dairy to deposit Rs 1,292 crore

The Securities Appellate Tribunal (SAT) on November 9 quashed an order, passed by markets regulator Sebi, asking Prabhat Dairy to deposit over Rs 1,292 crore, and also directed the regulator to process the delisting application of the firm and pass appropriate orders within six weeks.

"The direction of the WTM to deposit a sum of Rs 1,292.46 crore is wholly arbitrary and has been passed without any application of mind," the tribunal said.

NSE to launch first agricultural commodity futures contract next month

NSE on November 9 said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1. The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement.

The contract is a monthly expiry cash settled futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla. Vikram Limaye, MD and CEO of NSE, said the exchange is dedicated to deepen the Indian commodity markets by providing convenient and cost-effective onshore hedging products.

Results on November 10

GAIL India, Mahindra & Mahindra, Hindalco Industries, Tata Power, Aarti Industries, Aster DM Healthcare, Bata India, Century Plyboards, Chalet Hotels, Endurance Technologies, Exide Industries, GMR Infrastructure, IDFC, JB Chemicals & Pharmaceuticals, Lumax Auto Technologies, Lux Industries, Minda Industries, Motherson Sumi Systems, Info Edge India, NCC, NMDC, PNB Gilts, Raymond, Rashtriya Chemicals & Fertilizers, RITES, Shalimar Paints, Sintex Industries, Suzlon Energy, Symphony, TeamLease Services, TTK Prestige, Varroc Engineering and VST Tillers Tractors are among 535 companies to declare their quarterly earnings on November 10.

China's October PPI falls faster than expected

China’s factory-gate prices declined at a sharper-than-expected rate in October year-on-year, while consumer inflation eased to its slowest since 2009, data showed on Tuesday, underscoring the fragile nature of the economic recovery.

The producer price index fell 2.1% from a year earlier, the National Bureau of Statistics said in a statement, unchanged from a 2.1% drop in September and missing expectations for a 2.0% decline tipped by the median forecast from a Reuters survey of analysts.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 4,548.39 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 3,036.31 crore in the Indian equity market on November 9, as per provisional data available on the NSE.

2 stocks under F&O ban on NSE

Jindal Steel & Power and SAIL are under the F&O ban for November 10. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.