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

The Indian stock market is expected to open flat as trends on SGX Nifty indicate a flat start for the broader index in India. Nifty futures were trading flat around 12,996.50 level on the Singaporean Exchange.

The BSE Sensex declined 110.02 points to 44,149.72 on November 27 while the Nifty50 fell 18 points to 12,969 and formed a small-bodied bearish candle on the daily charts. According to pivot charts, the key support levels for the Nifty is placed at 12,910.43, followed by 12,851.87. If the index moves up, the key resistance levels to watch out for are 13,031.43 and 13,093.87.

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

World stock markets dipped on Monday to close a record-breaking month as the prospect of a vaccine-driven economic recovery next year and further central bank stimulus measures eclipsed immediate concerns about the spiking coronavirus pandemic.

The Dow Jones Industrial Average fell 271.73 points, or 0.91%, to 29,638.64, the S&P 500 lost 16.72 points, or 0.46%, to 3,621.63 and the Nasdaq Composite dropped 7.11 points, or 0.06%, to 12,198.74.

Asian Markets

Asian stock markets faced a choppy session on Tuesday after Wall Street dipped as investors took profits at the end of a record-breaking month while still remaining upbeat about the prospect of a COVID-19 vaccine fuelling gains into next year.

MSCI’s gauge of stocks across the globe was roughly flat, and Australia’s S&P ASX 200 was up 0.15%. In early Asian trade, Japan’s Nikkei 225 futures added 0.68%. Hong Kong’s Hang Seng index futures were down 0.36%.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 416 points gain. The Nifty futures were trading at 7963 on the Singaporean Exchange around 07:30 hours IST.

Fed's Kaplan says bracing for difficult months ahead

Dallas Federal Reserve Bank President Robert Kaplan on Monday said he expects strong economic growth in the second half of next year once newly developed COVID-19 vaccines get rolled out widely, but with cases surging now he sees a “very difficult” next three to six months.

“If we can see the resurgence moderate, I think you’ll continue to see growth in the fourth quarter, and you might even see growth in the first quarter of next year, but right now, the trends at least in the virus don’t look like they are moderating,” Kaplan told Reuters in an interview. “So we’re bracing ourselves here.”

Oil falls as OPEC+ talks delays raise supply concerns

Oil prices slipped on Tuesday amid concerns over mounting supply after leading producers delayed talks on 2021 output policy that could extend production cuts as the coronavirus pandemic continues to sap fuel demand.

Opening trading for December Brent crude was down 20 cents, or 0.4% at $47.68 a barrel by 0136 GMT, after dropping more than 1% on Monday. West Texas Intermediate was down by 27 cents, or 0.6% at $45.07 a barrel, having dropped 0.4% in the previous session.

Q2 GDP numbers surprise positively

India's July-September quarter GDP prints came out better-than-expected, reaffirming that the signs of improvement in the economy were real. The agriculture sector, which stood out in the first quarter, recorded a growth of 3.4 percent like in the previous quarter while the manufacturing sector, which contracted 39.3 percent in the last quarter, rebounded with a 0.6 percent growth.

India's consumer spending to return to growth in 2021: Fitch Solutions

After a COVID-19 pandemic-led contraction in consumer spending in 2020, household spending will return to growth in 2021, expanding by as much as 6.6 percent, Fitch Solutions said on Monday.

Consumer spending is forecast to have contracted by 12.6 percent in 2020. "While growth will return to positive in 2021, we do note the recovery will be slower than most countries, as a result of the significant contraction over 2020,” it said.

Moderna to seek emergency clearance for COVID-19 vaccine from USFDA, European regulators

Moderna Inc on November 30 said that it will be seeking emergency use authorisation of its COVID-19 vaccine from the United States Food and Drug Administration (USFDA) and European regulators after results from a late-stage study showed its vaccine was 94.1 percent effective. It also reported a 100 percent success rate in preventing severe cases, news agency Reuters reported.

"We believe that we have a vaccine that is very highly efficacious. We now have the data to prove it," Moderna Chief Medical Officer Dr. Tal Zaks said in a interview, adding that Moderna expects to play a "major part in turning around this pandemic".

FPIs net buyers for 2nd consecutive month in November, invest record sum of Rs 60,358 crore in equities

Foreign portfolio investors (FPI) remained net buyers for the second consecutive month in November by pumping in a whopping Rs 62,951 crore in Indian markets. According to depositories data, FPIs invested a net Rs 60,358 crore into equities and Rs 2,593 crore in debt segment, taking the total net investment to Rs 62,951 crore between November 3-27.

India October eight core industries growth at -2.5%

India's eight core industries growth for October was at -2.5 percent. The September growth number has been revised to -0.1 percent versus -0.8 percent earlier. For April-October the eight core industries grew -13 percent versus 0.3 percent (YoY).

S&P retains growth forecast at -9% for FY21

S&P Global Ratings on Monday retained its forecast of 9 percent contraction in the Indian economy for the current fiscal, saying even though there are now upside risks to growth but it will wait for more signs that COVID infections have stabilised or fallen.

"We retain our growth forecast of negative 9 percent in fiscal 2020-2021 and 10 percent in fiscal 2021-2022. While there are now upside risks to growth due to a faster recovery in population mobility and household spending, the pandemic is not fully under control."

China factory activity edges up in November: Official data

China's factory activity grew at its fastest pace in over three years in November, official data showed Monday, as the world's second-largest economy continued its recovery from the coronavirus. The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity in China, has largely rebounded following strict measures to curb the virus early in the year, coming in at 52.1 this month.

Sebi clears DRHP of Heranba Industries to launch Rs 700-crore IPO

Agrochemical manufacturer Heranba Industries has received approval for its draft red herring prospectus (RHP) from the capital market regulator Securities and Exchange Board of India (SEBI) for the initial public offering (IPO).

The Rs 700-crore IPO is now slated to open for subscription sometime in December 2020, subject to the approval of RHP by the Registrar of Companies, the press release said. The IPO consists of a fresh equity of Rs 60 crore and an offer for sale by promoters and other shareholders.

FDI up 15% to $30 billion during April-September 2020: Govt

Foreign direct investment (FDI) into India grew by 15 per cent to USD 30 billion during the first half of the current fiscal, according to official data. Inflow of FDI during April-September 2019-20 stood at USD 26 billion, as per the data of the Department for Promotion of Industry and Internal Trade (DPIIT).

India's fiscal deficit for April-October reaches 119.7% of yearly target, stands at Rs 9.53 lakh crore

India's fiscal deficit stood at Rs 9.53 lakh crore during April-October, which is 119.7 percent of Rs 7.96 lakh crore of the budget target, shows data released by Controller General of Accounts. The revenue gap for the same period stood at Rs 7.72 lakh crore vs Rs 5.46 lakh crore on a yearly basis.

The fiscal deficit at the end of September 2020 was about 114.8 per cent of the annual budget estimate. In absolute terms, the fiscal deficit stood at Rs 9,53,154 crore at October-end, which is 119.7 per cent of the annual budget estimates, as per the data released by the Controller General of Accounts (CGA). In the first seven months of 2019-20, the deficit was at 102.4 per cent of the annual target.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 7,712.98 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 4,968.9 crore in the Indian equity market on November 27, as per provisional data available on the NSE.