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Market Snippet
Benchmark indices continued its long term buy rally and made new life time high on account of heavy foreign fund inflows and persistent buying in blue chips despite weak global cues. Nifty ended at 10968. Energy companies were among the top gainers, with the Nifty energy index climbing as much as 1.9%, its second straight session of gains while Metals shares were the major losers of the day.

Global Markets Update
Nobilis Health Corp announced the appointment of Susan Watt to its Board of Directors (the “Board”), effective Friday, January 19th, 2018.

European shares traded with little clear direction on Monday as markets focused on a flurry of M&A, with limited impact from the shutdown of the U.S. government and progress towards an end to political deadlock in Germany.

Nifty

Stock Snippets

Axis Bank’s third quarter earnings beat analyst expectations, with improvement in asset quality performance. Profit during the quarter grew by 25.3 percent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.

Jubilant Foodworks shares hit fresh record high as operator of Domino’s Pizza chain in India posted a stellar increase in its December quarter net profit at Rs 66 crore, against Rs 20 crore posted during the same period last year. Its revenue grew by 21 percent year-on-year to Rs 795.20 crore in Q3.

Shareholders of Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) reacted to the developments around the deal involving two companies’ merger. ONGC gained over 6 percent intraday, while HPCL lost around 4 percent intraday on Monday. Investors have raised concerns over the valuation that HPCL has received in the deal.

Havells India reported a growth of 27 percent in the December quarter net profit at Rs 194.4 crore against Rs 153 crore posted a year ago. The company’s standalone revenue rose 30.5 percent at Rs 1,965.8 crore against Rs 1,506 crore year on year.

Global Markets

Most Asian markets closed mixed as investors kept an eye on political developments in the U.S. after a government shutdown began last week.

Japanese stocks eked out small gains with strength in securities and insurers offsetting falls in resources-related sectors including trading houses, steelmakers and shippers.

Indonesia stocks were higher after the close on Monday, as gains in the Mining, Agriculture and Consumer Industry sectors led shares higher.

Taiwan stocks were higher after the close on Monday, as gains in the Semiconductor, Electronic Parts/Components and Glass sectors led shares higher.

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