Domestic shares jumped on Monday, on improving risk appetite backed by stability in crude oil prices and foreign portfolio investors turning net buyers of Indian equities in the past few trading sessions. Shares also rallied on hopes that the government and the Reserve Bank of India (RBI) could bury their differences at a crucial central bank board meeting today, 19 November 2018.

A crucial meet of RBI central board was reportedly underway today, amid a rift between the central bank and the union government over future course of policies. The meeting is likely to discuss key issues, including easing rules for weak banks, providing liquidity to non-banking finance companies and framing a new capital framework for RBI. There is considerable nervousness among investors as to how the unprecedented confrontation between RBI and the union government ends.

The Sensex rose 317.72 points or 0.90% to settle at 35,774.88, its highest closing level since 3 October 2018. The index rose 361.67 points, or 1.02% at the day's high of 35,818.83. The index rose 53.94 points, or 0.15% at the day's low of 35,511.10.

The Nifty 50 index rose 81.20 points or 0.76% to settle at 10,763.40, its highest closing level since 3 October 2018. The index rose 92.50 points, or 0.87% at the day's high of 10,774.70. The index rose 6.60 points, or 0.06% at the day's low of 10,688.80.

The S&P BSE Mid-Cap index rose 0.35%. The S&P BSE Small-Cap index rose 0.36%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1327 shares rose and 1275 shares fell. A total of 192 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 1.45%), the S&P BSE FMCG index (up 1.27%), the S&P BSE Energy index (up 1.16%), the S&P BSE Metal index (up 1.16%), the S&P BSE Auto index (up 1.05%), the S&P BSE Basic Materials index (up 0.99%), the S&P BSE Capital Goods index (up 0.94%) and the S&P BSE Consumer Durables index (up 0.91%), outperformed the Sensex. The S&P BSE Healthcare index (up 0.78%), the S&P BSE Industrials index (up 0.76%), the S&P BSE Consumer Discretionary Goods & Services index (up 0.66%), the S&P BSE IT index (up 0.63%), the S&P BSE Teck index (up 0.62%), the S&P BSE Power index (up 0.60%), the S&P BSE Utilities index (up 0.32%), the S&P BSE Bankex (up 0.28%), the S&P BSE Finance index (up 0.27%), the S&P BSE Telecom index (up 0.25%) and the S&P BSE Oil & Gas index (down 0.21%), underperformed the Sensex.

ITC rose 2.77% to Rs 283.90. Reliance Industries rose 1.96% to Rs 1149.60. HDFC Bank rose 0.76% to Rs 2014.

Yes Bank surged 7.19% after ICRA Ratings retained its overall long-term rating of 'ICRA AA+' on the bank. Yes Bank's overall long term issuer ratings have been retained by ICRA Ratings at AA+ with Rating watch with developing Negative Implications. The agency takes note that there has been no adverse impact on Yes Bank's deposit base and liquidity profile post recent developments, the bank said in a statement. The announcement was made on Saturday, 17 November 2018.

Dr Reddy's Laboratories rose 2.28%. The company announced that the audit of its formulations Srikakulum plant (SEZ) Unit II, Andhra Pradesh by the US Food and Drug Administration (USFDA) completed on 16 November 2018 with zero observations. The announcement was made after market hours on Friday, 16 November 2018.

Tata Investment Corporation rose 5.26%. The company announced that its board approved a proposal to buyback upto 45 lakh equity shares of the company for an aggregate amount not exceeding Rs 450 crore, being 8.17% of the total paid-up equity share capital, at Rs 1,000 per share. As on 9 November 2018, promoter companies held 72.98% stake in Tata Investment Corporation. The announcement was made after market hours on Friday, 16 November 2018.

Infosys rose 0.21% after the company announced that it has completed the formation of a joint venture with Temasek, the global investment company headquartered in Singapore. Through this joint venture, Infosys will be a partner to Temasek in its digital transformation journey and further strengthen its footprint in South East Asia. The announcement was made after market hours on Friday, 16 November 2018.

The joint venture will provide Temasek and its other clients with solutions in advanced technologies including cloud, data and analytics, cybersecurity, digital experiences and AI. Additionally, employees of this joint venture will be able to access Infosys' world class education and training capabilities, to advance their technological skills.

Siemens fell 3.89% after net profit fell 55.24% to Rs 279.20 crore on 25.30% increase in total income to Rs 4015.60 crore in Q4 September 2018 over Q4 September 2017. The result was announced on 18 November 2018.

For the fourth quarter of financial year 2018, new orders grew by 38.1% to Rs 3720 crore compared to Rs 2694 crore in the fourth quarter of financial year 2017. New orders for the financial year 2018 were Rs 12740 crore. The order backlog as of 30 September 2018 stood at Rs 12352 crore.

On the political front, second phase of assembly elections will be held in Chhattisgarh tomorrow, 20 November 2018. Assembly elections in Madhya Pradesh and Mizoram will be held on 28 November 2018. Polling in Rajasthan and Telangana will be held on 7 December 2018. Counting of votes will be held across all the five states on 11 December 2018.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 71.615, compared with its close of 71.93 during the previous trading session.

In the global commodities markets, Brent for January 2019 settlement was up 21 cents at $66.97 a barrel. The contract had risen 14 cents, or 0.21% to settle at $66.76 a barrel during the previous trading session.

Overseas, most European shares gave up early gains and declined. Investors were closely watching developments in the UK, with Prime Minister Theresa May defiantly pledging her commitment to seeing Britain's exit from the European Union, despite several top-level resignations and growing doubts about her leadership.

Asian stocks settled higher as investors digested signs that US-China trade tensions are set to linger. On the data front, Japan's monthly balance of trade tumbled to a deficit of 449 billion yen ($3.95 billion) in October amid elevated trade tensions and ramped up pressure to cut its trade surplus with the US, data from the country's finance ministry showed Monday.

US stocks closed mostly higher on Friday, 16 November 2018 after comments from President Donald Trump once again sparked hopes that a trade dispute with China could be resolved in the near term. But the Nasdaq bucked the trend to finish lower as a decline in chip maker shares, led by Nvidia Corp., dented sentiment in the technology sector.

Industrial production rose just 0.1% in October, the Federal Reserve reported Friday. Compared to 12 months earlier, industrial production rose 4.1%.