What Changed For The Market While You Were Sleeping? Top 10 Things To Know

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The Indian stock market is expected to open flat as trends on SGX Nifty indicate a flat opening for the index in India.

Sensex closed 347 points, or 0.77 percent, higher at 45,426.97 and Nifty ended 97 points, or 0.73 percent, higher at 13,355.75 on December 7.

According to pivot charts, the key support levels for the Nifty is placed at 13,276.3, followed by 13,196.8. If the index moves up, the key resistance levels to watch out for are 13,401 and 13,446.2.

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 Nasdaq closed at a record high on Monday after investors moved into mega-cap growth stocks even as a new round of COVID-19 restrictions underscored the continuing economic impact of the pandemic on the United States.

The Dow Jones Industrial Average fell 149.59 points, or 0.5%, to 30,068.67, the S&P 500 lost 6.4 points, or 0.17%, to 3,692.72 and the Nasdaq Composite added 56.02 points, or 0.45%, to 12,520.25.

Asian Markets

Asian stocks came under pressure in early trade on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with anxiety over the growing number of COVID-19 cases.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.13% in early trade. Australia's S&P/ASX 200 inched up 0.09% in while Japan's Nikkei 225 fell 0.63%. Hong Kong's Hang Seng index futures were up 0.31%.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the index in India. The Nifty futures were trading at 13,420 on the Singaporean Exchange around 07:30 hours IST.

After Pfizer, SII, Bharat Biotech seeks emergency use authorisation for its Covaxin

After Pfizer and the Serum Institute of India (SII), Hyderabad-based Bharat Biotech has applied to the Drugs Controller General of India (DCGI) for emergency use authorisation of its COVID-19 vaccine, Covaxin.

According to news agency PTI, the Central Drugs Standard Control Organisation (CDSCO) will also meet on December 9 to evaluate their applications.

SEBI extends deadline for comments on minimum public offer requirement to December 24

Markets regulator SEBI on Monday extended till December 24 the deadline for submission of public comments on review of the minimum public offer requirement for large issuers.

It proposed to reduce the minimum offer size in an initial share sale, whereby companies with a post-issue capital of above Rs 10,000 crore would be required to offer at least 5 percent stake in IPO.

India will not have to wait too long for COVID-19 vaccine: PM Narendra Modi

Prime Minister Narendra Modi on December 7 said Indians will not have to wait for a COVID-19 vaccine for "too long", but warned against laxity in prevention of coronavirus infection. "One thing, which I will definitely remind you is that the wait for a vaccine is on, but in the past few days, I have met scientists, and feel that the country will not have to wait too long for it," the prime minister said as he inaugurated the phase one of the construction of Agra Metro project.

"However, there should be no laxity from our side as far as prevention of the infection is concerned. Masks and a distance of two yards is very necessary," he said.

Japan's PM announces $708 billion in fresh stimulus

Japan will compile a fresh economic stimulus package worth 73.6 trillion yen ($708 billion), Prime Minister Yoshihide Suga said on Tuesday, signalling his resolve to pull the country out of its coronavirus crisis-induced slump.

The new stimulus package will include fiscal spending worth around 40 trillion yen, Suga said.

Oil falls

Oil prices fell around 1% on Monday as surging coronavirus cases and heightened tensions between the United States and China undermined the positive impact from an OPEC+ deal on production.

Brent crude fell 46 cents, or 0.9%, to settle at $48.79 a barrel. U.S. crude fell 50 cents, or 1.1%, to settle at $45.76 a barrel.

India’s imports from China dropped 13% in 2020, exports rose 16%: Chinese customs data

Data released by the Chinese customs department on December 7 has revealed that India’s imports from China dropped by 13 percent in the first 11 months of 2020. At the same time, India’s exports to China rose by 16 percent despite the ongoing border conflict between the two nations and the adverse economic impact of the COVID-19 pandemic, reported the Hindustan Times.

According to the customs data, “China exported about $59 billion worth of products to India from January to November, down 13 percent. The decline has slightly narrowed compared with a 16.2 percent drop in the first 10 months of 2020.”

German industrial production jumps in October

German industrial output beat expectations in October, official data showed Monday, reflecting a continuing rebound in Europe's largest economy before the latest restrictions to control the pandemic were imposed. Industrial production rose 3.2 percent month-on-month, federal statistics agency Destatis said, driven by a strong performance in Germany's key car industry.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 3,792.06 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,767.09 crore in the Indian equity market on December 7, as per provisional data available on the NSE.