The Indian market is likely to open higher Friday following a muted trend in the Asian peers. At 8:00 am, the SGX Nifty was trading 23.25 points or 0.18 percent higher at 13,055.50, indicating a flat start for the Sensex and Nifty50.
1. Asia | Asian shares fell slightly on Friday, pulling back from a record high hit earlier this week, amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.07 percent. Australian shares were down 0.15 percent. Japan's Nikkei fell 0.09 percent.
2. Indian Market | The Indian market ended higher on Thursday led by a sharp surge in metals, banking and financial stocks. The final hour of trading ended the November F&O expiry session on a strong note.At close, the Sensex closed 431 points higher to 44,259.74 while the Nifty50 index settled at 12,987, ended 129 points higher. Broader markets closed nearly a percent higher. Nifty Midcap 100 index and Nifty Smallcap 100 index closed 0.88 percent and 0.9 percent higher respectively.
3. Crude Oil | Oil prices were mixed on Friday in quiet trade due to the US Thanksgiving holiday, with West Texas Intermediate (WTI) dropping more than 1 percent amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic. WTI was down by 69 cents, or 1.5 percent, at $45.02. US crude prices did not settle on Thursday due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7 percent overnight. (Image: Reuters)
4. Rupee | The rupee appreciated 3 paise to close at 73.88 against the US dollar on Thursday, tracking positive domestic equities and sustained foreign fund inflows. The domestic unit opened at 73.85 against the greenback and witnessed an intra-day high of 73.75 and a low of 73.89. The local unit extended gains for the fifth straight session and finally closed at 73.88 against the American currency, registering a rise of 3 paise over its previous close.
5. GDP | The union ministry of statistics and programme implementation (MoSPI) today will announce the gross domestic product (GDP) numbers for the second quarter (July-September 2020) of current financial year (FY 2020-21).A CNBC-TV18 Poll shows that the Indian economy is likely to contract by 8.9 percent during this period.
6. China's industrial profits rise 28.2% YoY | Profits at Chinese industrial firms rose 28.2 percent year-on-year in October to 642.91 billion yuan ($97.79 billion), official data showed on Friday, pointing to a steady recovery in the manufacturing sector after it was hard hit by the COVID-19 pandemic. Profits rose for a sixth straight month in October, after increasing by 10.1 percent year-on-year in September, the data from the National Bureau of Statistics (NBS) showed.
7. COVID-19 Vaccine | The developers of the Russian vaccine candidate Sputnik V called on AstraZeneca to experiment combining vaccines with theirs. The Russian vaccine developers in a tweet late on Thursday said AstraZeneca should try combining its experimental shot with the Russian Sputnik V to boost efficacy and combining vaccines may prove important for revaccinations.
8. Aviation bodies seek airport slots waiver for much of 2021 | Global aviation heavyweights led by airline body IATA are pushing to suspend airport slot access rules until October 2021, a document seen by Reuters showed, while giving some ground to budget carriers angered by measures they deem anti-competitive. The draft proposal to be issued jointly by IATA, airports body ACI and slot coordinators, calls on regulators to extend the current waiver of rules requiring airlines to use 80% of their take-off and landing windows or else cede some to rivals.
9. SBI expects RBI to hold interest rate | State Bank of India expects the country's central bank to hold interest rates as inflation remains elevated, the chairman of India's largest lender Dinesh Kumar Khara said. "The stance will continue to remain accommodative but they may not be in a position to cut interest rate in immediate future," Khara said.
10. LVB-DBS deal | The Reserve Bank of India ( RBI) has directed Lakshmi Vilas Bank (LVB) to also write off tier-2 bonds worth around Rs 320 crore. “The Reserve Bank of India, vide their letter dated 26th November 2020 has advised the need to fully write-down the Series VIII, Series IX and Series X Basel-III complaint Tier-2 Bonds before the amalgamation comes into effect from the Appointed date i.e., 27th November 2020,” an exchange filing read.