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Closing bell: Sensex gains 155 points, Nifty below 10800 led by IT, realty stocks

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The BSE Sensex closed 155.06 points, or 0.43%, up at 35,850.16, and the Nifty 50 ended 49.25 points, or 0.46%, higher at 10,776.60. Here are the latest updates from the markets

Mumbai: Indian advanced for a second straight session on Monday helped led by IT, realty and select bank stocks. Positive start in Asian markets and continued buying by domestic investors also boosted shares. DIIs had bought shares worth Rs 240.60 crore on Friday on net basis. However, the Sensex and the Nifty 50 trimmed gains following as stocks in European markets declined. Losses in PSU bank and pharma stocks also capped the rally.The BSE Sensex closed 155.06 points, or 0.43%, up at 35,850.16, and the Nifty 50 ended 49.25 points, or 0.46%, higher at 10,776.60. Intraday, the Sensex rose 382 points to hit a high of 36,076.95, and the Nifty 50 jumped 108.6 points to a day's peak of 10,835.95.The BSE midcap and smallcap indices posted marginal gains and were up 0.03% and 0.06%, respectively. Fourteen of 19 sectoral indices on BSE rose led by realty, telecom, IT, teck, utilities and power, which rose over 1%. Healthcare, industrials, auto, capital goods and metal declined.Axis Bank, Tata Motors, Infosys, Titan, Maruti Suzuki and NTPC were among the top gainers on the key indices, whereas Bajaj Auto, Hero MotoCorp., Bajaj Finance, Sun Pharma, Yes Bank and SBI were among the major losers.In global markets. US equity futures and European stocks reversed gains even as shares in Asia rallied. Oil prices rose by over 1%, lifted by US-China trade talks, while supply cuts by major producers also supported the market. Here are the latest updates from the markets:

3.37pmClosing bell: Sensex, Nifty gain for 2nd dayThe BSE Sensex closed 155.06 points, or 0.43%, up at 35,850.16, and the Nifty 50 ended 49.25 points, or 0.46%, higher at 10,776.60.

3.27pmModi govt approves 10% reservation for economically backward upper castes<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Cabinet approves 10% reservation for economically backward upper castes in govt jobs <a href=”https://t.co/MD51art7uU”>https://t.co/MD51art7uU</a></p>- Livemint (@livemint) <a href=”https://twitter.com/livemint/status/1082212712229220352?ref_src=twsrc%5Etfw”>January 7, 2019</a></blockquote><script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8”></script>

3.12pmLupin gets USFDA nod, shares struggleLupin said it has received USFDA approval for Lurasidone hydrochloride tablets, 20 mg, 40 mg, 60 mg, 80 mg & 120 mg. Shares traded 0.86% down at Rs 821.65 per share.

2.51pmPTC India Financial shares up over 3%PTC India Financial Services said it has received a sanction for long term facilities of Rs 1,400 crore from State Bank of India. Shares traded 3.5% to Rs 17.70 per share.

1.57pmRBI expected to pay government up to $5.8 billion interim dividend: ReportThe Reserve Bank of India (RBI), having changed management last month following a clash with the government, is likely to transfer an interim dividend of Rs 30,00-Rs 40,000 core ($4.32 billion-$5.8 billion) to the government by March, according to three sources with direct knowledge of the matter.The dividend could help Prime Minister Narendra Modi's administration bridge a widening budget deficit following a drop in tax collections, and would come after the government pushed the RBI for the additional funds ahead of a national election due by May. Reuters

1.23pmStrong Q3 will improve profitability: Edelweiss Securities on aviation earnings-With Q3 being the strongest quarter due to holiday season, we expect earnings to rebound across airlines in Q3FY9. We expect yield expansion at 10-20% QoQ across airlines.-Indigo continues to outgrow the industry with PAX growth of 24%, while SJET ‘s grew 10% and JAL's declined 5%. We estimate Indigo, SJET and JAL (standalone) to report PLFs of 83.0%, 90.5% and 83.7%, respectively.-Assuming oil price at USD55/bbl for Q4FY19, we expect a further 68% QoQ rise in Indigo's PAT, while we expect Spicejet to turn profitable and losses to further narrow at Jet.-We also take in to account slower industry growth at 15% YoY, while we estimate Indigo and Spicejet to grow at 25% YoY each as aircraft deliveries ramp up; Jet will continue to lose market share (PAX growth at 2% YoY) as aircraft deliveries stall due to liquidity constraints.

12.23pmIndiabulls Ventures recommends “buy” on Escorts“Escort has been reporting healthy volume sales numbers both on domestic as well as on exports front over the last three months. The management has also guided for 12-15% industry growth and the management is confident of surpassing the industry growth. Markets share has also been increasing for Escorts on account of new product launches,” said Indiabulls Ventures in a note. The brokerage recommended a “buy” rating, with a target price of Rs 832 per share.

11.51amSC issues notice to Anil AmbaniThe Supreme Court on Monday issues notice to Anil Ambani on a contempt plea by Ericsson India Pvt. Ltd seeking initiation of contempt proceedings against the chairman of Reliance Communication Ltd (RCom) for allegedly not complying with its order to clear dues of Rs 550 crore towards the completion of the assets sale with Reliance Jio Infocomm Ltd (RJio).

11.02amReliance Securities recommend “buy” on CEAT“We foresee CEAT's operating performance to improve further in ensuing quarters with the likely improvement in volume and product-mix on the back of higher replacement demand,” said Reliance Securities in a research report. “Though there would be near term pressure on business performance, gradual ramp-up in Ambernath plant's utilisation is expected to aid CEAT's profitability in ensuing quarters.” The brokerage recommended “Buy” on CEAT with a target price of Rs 1750, valuing the stock at 17.5x FY20E EPS.

10.39amBHEL shares rise 2%BHEL shares traded 1.8% up at Rs 72.65 per share. The company on Saturday said it has commissioned a 800 MW supercritical thermal plant at Kothagudem Thermal Power Station (KTPS) of Telangana State Power Generation Corporation.

10.15amAre lower crude prices enough to bring aviation sector's mojo back?<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>ATF prices have come back to levels where low-cost airlines generated decent profits<a href=”https://t.co/srbh2jXkI8”>https://t.co/srbh2jXkI8</a></p>- Livemint (@livemint) <a href=”https://twitter.com/livemint/status/1082130949767229440?ref_src=twsrc%5Etfw”>January 7, 2019</a></blockquote><script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8”></script>

9.53amBharat Forge shares fall on sales dataBharat Forge traded 1.5% lower at Rs 480.40 per share after the company informed exchanges that its north america sales for November declined by 14% from a year ago to 27.90 tousand units.

9.40amRIL shares up over 1%Shares of Reliance Industries rose as much as 1.2% to Rs 1,112.50 per share. Reliance Industries Ltd (RIL) has received approval from the Reserve Bank of India (RBI) for cross-border merger of Reliance Holding USA Inc, a wholly owned, step-down subsidiary of RIL with Reliance Energy Generation and Distribution Ltd (REGDL), the company said in a regulatory filing on Friday.

9.27amBandhan Bank shares fall on Gruh Finance deal buzzBandhan Bank shares fell as much as 4.3% to Rs 505.60 per share, while Gruh Finance shares gained 3.2% to Rs 329 per share. Mint reported that Bandhan Bank is set to acquire Gruh Finance via a share swap. The merger could be announced as early as this week following board meetings of the two companies on Monday. The Bandhan Bank stock trimmed losses and traded 0.7% lower. Read more

9.14amRupee rises against dollarThe Indian rupee rose to a five-month high after the US dollar fell as trade talks between the US and China began and traders weighed possibility of the Federal Reserve pausing interest rate hikes. At 9.10am, the rupee was trading at 69.39 a dollar, up 0.54% from previous close of 69.73. The home currency opened at 69.42 and touched a high of 69.36-a level last seen on 10 August 2018. The 10-year gilt yield was trading at 7.448% from its Friday's close of 7.449%.

9.07amFPIs pulled out Rs 83,000 crore in 2018 on oil prices, weak rupeeOverseas investors pulled out over Rs 83,000 crore from the capital markets in 2018, after pouring in a record Rs 2 lakh crore in the preceding year, on the back of rate hikes in the US, rise in global crude prices and rupee depreciation. Foreign portfolio investors (FPIs) made a net withdrawal of about Rs 83,146 crore from the Indian markets in 2018. This comprises Rs 33,553 crore from equities and Rs 49,593 crore from the debt market, according to data available with depositories. Read more

8.59amIT stocks outperform benchmark indices in 2018Boosted by a weak rupee, technology stocks outpaced benchmark indices in 2018. In the year gone by, the BSE IT index gained 25%, outpacing the benchmark Sensex's 5.9% gain. This makes 2018 the best year for the BSE IT index since 2013. In 2017, by contrast, even as the Sensex rose 28%, the BSE IT index gained only 11%, as revenue grew at a slower pace in large IT services companies.Read: Tech stocks ride high on lower rupee in 2018

8.51amCommodity corner: Oil prices up 1%, gold edges lowerOil prices rose by more than 1%, lifted by optimism that talks could soon resolve the trade war between the US and China, while supply cuts by major producers also supported the market. Brent crude futures were at $57.77 per barrel, up 71 cents, or 1.2%, from their last close. US WTI crude oil futures were at $48.65 per barrel, up 69 cents, or 1.4 percent.Metals: Steel-linked metals zinc and nickel edged higher after China took measures to boost lending following a contraction in its industrial growth and as focus shifted to trade talks between China and the US this week. LME zinc rose by half a percent to $2,450 a tonne.Gold prices edged down on Monday as equities rose on a recovery in risk appetite following comments by U.S. Federal Reserve Chairman Jerome Powell that the central bank would be patient and flexible in steering the course of interest rates. Spot gold had dropped about 0.1% to $1,284.05 per ounce. US gold futures were down about 0.1% at $1,285.10 per ounce. Reuters

8.43amAsian stocks trade higher on Fed,China policy boostStocks across Asia kicked off the week with strong gains after soothing Federal Reserve comments and an easing of monetary policy in China triggered a renewed appetite for risk assets. Treasuries steadied after Friday's slide and oil extended its recent rebound. Shares in Japan led the charge, with advances also in Hong Kong, South Korea and Australia. U.S. futures climbed, signaling Friday's rally in U.S. stocks could continue.Japan's Topix index rose 3.2% as of 10:34 a.m. in Tokyo. Australia's S&P/ASX 200 Index gained 1.4%. Hong Kong's Hang Seng Index rose 1.5%. The Shanghai Composite Index advanced 0.5%. Futures on the S&P 500 gained 0.5%. The S&P 500 Index climbed 3.4% Friday, when the Dow Jones Industrial Average advanced 3.3%. The MSCI Asia Pacific Index climbed 1.9%. Bloomberg