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Market Ahead, November 26: All you need to know before the opening bell

Investors will today track the meeting of Sebi-appointed Secondary Market Advisory Committee which is expected to discuss big bang reforms for the capital marke

Market Ahead | Markets

BS Web Team  |  New Delhi 

Let's start with the global The main indices in the US dipped slightly in overnight deals as investors switched their focus from vaccine hopes to disappointing US jobs data and new Covid-19 lockdowns.

Overall, the S&P 500 index fell 0.16 per cent and the Dow Jones Industrial Average lost half a per cent, while the Nasdaq increased 0.47 per cent.

In Asia, indices were mixed early Thursday morning. Japan's Nikkei rose half a per cent and Korea's Kospi was up 0.4 per cent. Pn the other hand, Hong Kong's main index was flat while Australia's ASX200 fell 0.3 per cent.

In commodities, data showing a surprise drop in weekly US crude inventories extended a rally in oil prices. Brent was at $48.90, up 2.17 per cent on the day.

Meanwhile, SGX Nifty is indicating a positive start for the domestic indices today. However, the expiry of November series derivative contracts is expected to keep the session volatile.

Siemens might trade actively in today's session after reporting a flattish dip in profit at Rs 330 crore in the September quarter. The company's revenue also fell to Rs 3,547 crore.

Sebi yesterday relaxed certain surveillance measures that were put in place eight months ago to curb volatility in the due to the coronavirus pandemic. The watchdog has decided to relax the measures with respect to increased margin for non-F&O stocks and revised market wide position limits.

Investors will today track the meeting of Sebi-appointed Secondary Market Advisory Committee which is expected to discuss big bang reforms for the capital market. According to reports, one of the agendas for today's meeting is the discussion over reducing settlement days to T+1.

And now some other top news

Giving finality to the efforts towards salvaging Lakshmi Vilas Bank, the Union Cabinet yesterday gave its nod to merge LVB with DBS Bank India. The amalgamation will come into force tomorrow and LVB's shares will be delisted. The moratorium on LVB will also be lifted on November 27.

On the Covid front, India reported 44,699 fresh Covid-19 cases on Wednesday taking its tally to 92.66 lakh. The country's death toll mounted to 1.35 lakh. The Central government on Wednesday issued fresh guidelines for states to strictly enforce containment measures, surveillance and caution to fully overcome the pandemic. The guidelines will be effective from December 1 till the end of the month.

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First Published: Thu, November 26 2020. 07:48 IST