Market Ahead, November 27: All you need to know before the opening bell

The Indian markets resumed their ascent on Thursday after a day’s breather, with both the benchmark indices rising nearly one per cent as the November series derivative contracts expired. And, going by the SGX Nifty, the markets are likely to start the December series on a positive note, with the Nifty reclaiming the 13,000-mark.

Asian shares were mixed in Friday's early deals. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.07 per cent. Australian shares were down half a per cent while Japan's Nikkei was flat. Korea's Kospi, meanwhile, gained 0.2 per cent.

US financial markets were closed on Thursday for the Thanksgiving holiday and will trade on a partial schedule later on Friday.

In commodities, oil prices looked set to extend their declines from a seven-month high due to signs of oversupply. Brent futures had risen to nearly $50 a barrel this week but was last down 1.5 per cent at $47.87 a barrel.

Back home, investors will keenly await India's GDP figures for the second quarter which are scheduled to be released today post market hours. Every rating agency, barring Barclays, has projected either less contraction in India's economy in the second quarter or the same as it was earlier. The predictions differ widely as BofA Securities expected the fall in GDP at 7.8 per cent while CRISIL says the decline in the economy would be less than 10 per cent.

India's economy shrank at an unprecedented 23.9 per cent in the first quarter. As such, if projections come true, India would be in a technical recession.

FMCG stocks may come under the spotlight toady after market research agency Nielsen said that India's FMCG market will contract by 1-3 per cent in the 2020 calendar year, as headwinds such as commodity inflation outweigh tailwinds.

Besides these, investors will track stock-specific developments, the Rupee's trajectory and oil price movement.

The beleaguered DHFL has reported a net loss of Rs 2,123 crore for the quarter ended September as compared to a net loss of Rs 6,750 crore reported for the same period last financial year.

Meanwhile, changes to MSCI Global Standard Index will come into effect from the close of business today. ACC, Adani Green, Balkrishna Industries, and L&T Info are among the 12 stocks that will be added to the index while Bosch and LIC Housing Finance will be removed.

On the Covid front, India reported 43,174 fresh Covid-19 cases on Thursday, taking its tally to over 93 lakh. The country's death toll mounted to 1.35 lakh.,  Interim data from the Indian arm of Oxford-AstraZeneca vaccine candidate Covishield has shown the lowest efficacy results of 60-70 per cent. 

And, domestic equities and currency markets will remain shut on Monday, November 30, on account of Gurunanak Jayanti.