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The market ended with decent gains, mirroring strength in global stock markets, supported by strong US jobs data and a dovish tone by the US Federal Reserve. The indices opened higher and extended gains in morning trade. Indices pared gains in early afternoon trade. Benchmarks turned range bound in mid-afternoon trade. Indices further pared gains in late trade. The Nifty 50 gained 44.45 points and settled the day at 10771.80. Realty sector were major gainers and Pharma sector were major loser of the day.

Global Markets

Overseas, shares in Europe and Asia advanced on Monday as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market’s worst fears about the global outlook. Market participants sentiment also picked up slightly ahead of a round of trade negotiations between the United States and China in Beijing. The US and China will hold vice ministerial level trade talks in Beijing on January 7-8, 2019.

Stock Snippets

Bharat Heavy Electricals (BHEL) rose 1.12% after the company announced that it has successfully commissioned a 800 MW thermal unit at Kothagudem Thermal Power Station.

V2 Retail has launched one operational retail store in Supal, Dist, Banka in Bihar. With this, the company now operates 76 retail stores.

ONGC announced that its subsidiary, ONGC Videsh has registered a significant discovery of oil in its onshore block CPO-5, Colombia, in Llanos Basin.

Punjab & Sind Bank announced that the Central Government has amalgamated Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank into a single Regional Rural Bank with effect on and from 01 January 2019.

Kirloskar Electric Company was locked in 20% upper circuit after the company entered into an agreement with Brigade Enterprises for sale of non-core asset of the company situated at Bangalore.

Japan stocks were higher after the close on Monday, as gains in the Warehousing, Marine Transport and Steel sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 2.44%.

Global Markets

Australia stocks were higher after the close on Monday, as gains in the IT, Resources and Energy sectors led shares higher. At the close in Sydney, the S&P/ASX 200 gained 1.14% to hit a new 1-month high.

China stocks were higher after the close on Monday, as gains in the Software & Computer Services, Technology and Technology Hardware & Equipment sectors led shares higher. At the close in Shanghai, the Shanghai Composite rose 0.72%.

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