Sensex, Nifty to open on a flat note

Asian shares are mixed with Japan’s Nikkei down half a percent while China's Shanghai Composite is down 0.7%. Hong Kong's Hang Seng has lost half a percent while South Korea's Kospi is marginally down. Taiwan's TWSE has managed to buck the trend and is trading slightly higher.

The government may well buy into the argument of the Congress party and accept a revenue neutral rate of 18% for GST even as the industry and government are keen to push a rate between 20- 22%. To what extent the government manages to convince its principle Opposition leaders remains to be seen in the coming days. Meanwhile, the November series ​saw a disappointing end ​as Nifty down 2.84% on an expiry to expiry basis. Banks showed interest but Pharma, IT and capital goods were on the sellers list. Out of total 162 stocks available for trading in the derivative segment​,​ 93 stocks end​ed​ November series with a price contraction.

The outlook is a flat to weak start as December series gets underway. For the near term, support for Nifty is seen emerging at 7720 levels and resistance close to 8055 (spot basis). Lower rolls in share terms for Nifty coupled with VIX trading at lower levels indicates focus is likely to shift on individual stocks. The rupee movement will also be closely eyed.  

Colgate-Palmolive could be in action as the company will consider a second interim dividend.

Patel Integrated Logistics is likely to consider issuing shares on preferential basis.

Asian shares are mixed with Japan’s Nikkei down half a percent while China's Shanghai Composite is down 0.7%.  Hong Kong's Hang Seng has lost half a percent while South Korea's Kospi is marginally down. Taiwan's TWSE has managed to buck the trend and is trading slightly higher.

On the weather front, the Met dept has forecast four days of heavy to very rains for Tamil Nadu, Puducherry and coastal Andhra Pradesh from today.

GST can be a “Brahmastra” for the Indian economy against a very difficult global economic scenario, affected by demand slowdown, uncertain geo-political situation after the Paris terror attacks, and an unprecedented crash in vital commodities, says Sunil Kanoria, new ASSOCHAM President.

Reliance Infrastructure Ltd., together with its wholly owned subsidiary, Reliance Defence Systems Pvt Ltd., has already announced a transaction for the acquisition of substantial shareholding and change of management control of Pipavav Defence & Offshore Engineering Co. Ltd. (PDOC).The open offer will open on 2nd December, 2015 and will close on 15th December, 2015. 

Indian banks are stable, but there will be challenges ahead for state-owned banks, Fitch reportedly said.

Ola, India’s leading mobile app for personal transportation announced the appointment of Rajiv Bansal as its Chief Financial Officer. Rajiv brings close to 21 years of experience in finance with over 16 years at Infosys, where he was the CFO and recently transitioned to being an Advisor to the CEO.