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

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 50 points gain.

The BSE Sensex climbed 282.29 points to 43,882.25 on November 20 while the Nifty50 rose 87.30 points to 12,859 amid consolidation. According to pivot charts, the key support levels for the Nifty is placed at 12,761.97, followed by 12,664.93. If the index moves up, the key resistance levels to watch out for are 12,924.27 and 12,989.53.

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

US stocks closed lower on Friday as investors wrestled with fiscal stimulus developments, concerns over a lengthy rollout of vaccines, and a growing number of state-level shutdowns to combat the spiraling COVID-19 pandemic.

The Dow Jones Industrial Average fell 219.95 points, or 0.75%, to 29,263.28, the S&P 500 lost 24.22 points, or 0.68%, to 3,557.65 and the Nasdaq Composite dropped 49.74 points, or 0.42%, to 11,854.97.

Asian Markets

A broad gauge of Asian shares edged up to record highs on Monday morning as hopes for imminent coronavirus vaccines buoyed investor sentiment, but worries over the impact of economic lockdowns and uncertainty over U.S. stimulus capped gains. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.38%.

Trading activity was thin early in the Asian day, with Japanese markets closed for a holiday. Nikkei futures added 0.16% to 25,785 and Seoul’s Kospi was 0.84% higher.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 50 points gain. The Nifty futures were trading at 12,932 on the Singaporean Exchange around 07:30 hours IST.

SEBI issues consultation paper on IPO equity dilution condition

The Securities and Exchange Board of India (SEBI) has issued the consultation paper for considering equity dilution requirement from 10 percent to 5 percent for Initial Public Offers (IPOs) that have more than Rs 10,000 crore as post-issue capital.

SEBI has also proposed to increase the timeline for maintaining minimum public shareholding from 3 years to 5 years for IPOs with more than Rs 10,000 crore, post-issue capital.

FPIs net buyers in November so far; pump in Rs 49,553 crore

Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on the back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20.

EPFO records 14.9 lakh net new enrolments in September 2020

Net new enrolments with retirement fund body EPFO rose to 14.9 lakh in September from 8.8 lakh in August 2020, according to its latest payroll data, providing a perspective on formal sector employment amid the coronavirus pandemic. Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 10.05 lakh in August this year. The figure has now been revised down to 8.8 lakh.

Doors could be finally open to large business houses to launch banks: RBI

The big takeaway from the report of the Reserve Bank of India (RBI)’s internal working group (IWG) on ownership guidelines for private banks is the proposal to allow large corporate and industrial houses to promote private banks.

The proposal, however, comes with certain riders. According to the IWG recommendations, large corporate/industrial houses may be allowed as promoters of banks only after necessary amendments to the Banking Regulation Act, 1949.

Sebi panel proposes audio/video recordings of post-earning conference calls to address information assysmetry among shareholders

To address information asymmetry amongst shareholders, a Sebi panel has recommended that listed companies should make available audio and video recordings of post-earning conference calls on their websites as well as stock exchanges within 24 hours or before the next trading day.

The recommendations have been made in a report on disclosures pertaining to analyst meets, investor meets and conference calls, prepared by a sub-group headed by HDFC Vice Chairman and CEO Keki Mistry. The sub-group was formed by the Primary Markets Advisory Committee (PMAC), which also discussed the report this month.

India's manufacturing poised to witness recovery in July-September 2020: Survey

India's manufacturing sector is poised to witness recovery in the July-September quarter, even as hiring outlook for the segment remains bleak, according to a survey. Industry body FICCI's latest quarterly survey on manufacturing points towards recovery of the manufacturing sector in the second quarter ended September as compared to the previous quarter, with a rise in percentage of respondents reporting higher production.

Finance Commission likely to recommend doubling of public health expenditure by FY24

In the backdrop of the COVID-19 pandemic, the Fifteenth Finance Commission has likely recommended that India’s combined public health expenditure be increased to 2.5 per cent of gross domestic product by 2023-24, Moneycontrol has learnt. As a percentage of GDP, this is nearly double of 1.26 per cent health outlay by central and state governments in 2019-20, as per an assessment by Niti Aayog.

In its report for 2021-22 to 2024-25, the Fifteenth Finance Commission (15th FC) has also likely recommended that governments move to a fiscal deficit target range rather than a fixed number, and the creation of a separate central cadre for doctors and medical professionals, to combat the issue of shortage of essential personnel.

RBI imposes over Rs 5.78 crore fine on six entities including PNB, Sodexo, PhonePe

The Reserve Bank of India (RBI) has imposed a total fine of over Rs 5.78 crore on six entities, including PNB, Sodexo and PhonePe, for violating regulatory guidelines. In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the RBI has imposed monetary penalty on these entities for non-compliance of regulatory guidelines, it said in a release.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 3,860.78 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,868.66 crore in the Indian equity market on November 20, as per provisional data available on the NSE.

10 stocks under F&O ban on NSE

Bank of Baroda, BHEL, Canara Bank, DLF, Indiabulls Housing Finance, Vodafone Idea, L&T Finance Holdings, NALCO, Punjab National Bank and RBL Bank are under the F&O ban for November 23. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters & other agencies