What changed for the market while you were sleeping? Top 10 things to know

The 30-share BSE Sensex recovered 300 points from day's low to end 77.01 points higher at 36,347.08, continuing uptrend for the sixth consecutive session.

The 50-share NSE Nifty gained 20.30 points at 10,908.70, forming bullish candle on the daily scale.

"Nifty index partial filled its previous day’s gap and formed a bullish candle on a daily scale which indicates that decline is being bought in the market. The index has been shifting its support to higher zones and given a highest daily close in last 52 trading sessions since October 1, 2018," Chandan Taparia, Associate Vice President | Analyst-Derivatives, Motilal Oswal Financial Services told Moneycontrol.

The broader markets also traded in line with frontliners as the Nifty Midcap index gained 0.4 percent. Major sectoral indices like Bank, Auto, Metal and Pharma gained 0.5-0.8 percent whereas IT lost a percent.

After six-day gains, the market is expected to consolidate and some amount of profit taking can't be ruled out in coming sessions, experts said.

India Volatility Index fell by 4.32 percent to 14.50 levels. VIX has seen a sharp cut of 32.50 percent in last five sessions which suggests that now bulls are getting a grip on the market with the expectation of limited downside.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

The benchmark S&P 500 stock index ended little changed in a choppy trading session on Tuesday as the possibility of a partial US government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve. The Dow Industrials and the Nasdaq posted slight gains, however, as shares of Boeing Co and the group of internet-focused momentum stocks known as FAANG rose.

The Dow Jones Industrial Average rose 82.66 points, or 0.35 percent, to 23,675.64, the S&P 500 gained 0.22 point, or 0.01 percent, to 2,546.16 and the Nasdaq Composite added 30.18 points, or 0.45 percent, to 6,783.91.

Asian share markets played second fiddle to bonds on Wednesday as a spectacular fall in the price of oil fanned speculation the US Federal Reserve might be done with tightening after its policy meeting later in the day.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent in hesitant early trade. Japan's Nikkei eased 0.1 percent, while E-Mini futures for the S&P 500 inched up 0.17 percent.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32.5 points or 0.3 percent. Nifty futures were trading around 10,987-level on the Singaporean Exchange.

President Donald Trump on December 18 urged the Federal Reserve, the US central bank, to not make "another mistake" by raising interest rates.

"I hope the people over at the Fed will read today's Wall Street Journal Editorial before they make yet another mistake," he tweeted. "Also, don't let the market become any more illiquid than it already is. Stop with the 50 B's. Feel the market, don't just go by meaningless numbers. Good luck!"

Trump has repeatedly broken with the norm respected by US presidents in recent decades to refrain from criticizing the Fed, hammering the central bank this year over its move away from the zero interest rate policy implemented during the global financial crisis.

But analysts and former Fed members say Trump's unprecedented vitriol could cause the central bank to try to prove its independence by raising rates even if policymakers might otherwise have held off.

Oil prices tumbled more than 5 percent on Tuesday in heavy trade due to fears of oversupply and deteriorating demand, extending a selloff that has taken major crude benchmarks down more than 30 percent from an October peak.

US crude and global benchmark Brent both extended declines in post-settlement trade after trade group The American Petroleum Institute said US inventories unexpectedly climbed in the latest week.

US crude oil fell $3.64, or 7.3 percent, to settle at $46.24 a barrel, the weakest since August, 2017. In post-close trade, the contract was down 8 percent to $45.91 a barrel. Global benchmark Brent lost $3.35, or 5.62 percent, to settle at $56.26 a barrel. During the session, Brent hit a 14-month low of $56.16.

NSE on December 18 said it has received markets regulator SEBI's approval to launch weekly options on Nifty 50 index, a move that will provide hedging tool to market participants to manage the portfolio risk more effectively. The National Stock Exchange (NSE) said it is currently evaluating readiness of market participants for the product launch and will announce a launch date shortly.

"With the successful launch of weekly options on the Nifty bank index, there was demand from the market participants for a similar product variant of the Nifty 50 index. "The weekly options on Nifty 50 index provides an additional hedging tool for market participants to manage the portfolio risk more effectively," NSE MD and CEO Vikram Limaye said in a statement.

The Indian rupee on December 18 rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India's current account deficit expansion.

Besides, sustained selling of the American currency by exporters and banks as well as the greenback's weakness against its key rivals globally ahead of the US Fed policy decision on December 19 also helped the domestic unit scale further heights.

Capital market regulator Securities and Exchange Board of India (SEBI) is in discussion with mutual fund houses to review and implement valuation guidelines for corporate bonds, said SV Muralidhar Rao, Executive Director, SEBI.

“We are in discussion with stake holders and we have decided to review the (valuation of debt securities and money market instruments) norms. We will be implementing it in due course while giving the industry a reasonable time to adjust to the change,” said Rao.

State-owned IDBI Bank said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 percent in the lender.

"This is to inform that IDBI Bank is in receipt of final letter of open offer from LIC vide letter dated December 18, 2018 for acquisition of 2,04,15,12,929 fully paid-up equity shares representing 26 percent of the fully diluted voting equity share capital of IDBI Bank from the equity shareholders of IDBI Bank," the lender said in a regulatory filing.

The Securities and Exchange Board of India (Sebi) has made a sub-committee under the Primary Markets Advisory Committee (PMAC) for re-introducing DVRs for listed companies, said Ajay Tyagi, chairman, Sebi, at a summit organized by the Association of Investment Bankers of India on Tuesday.

“These shares are more relevant for new-age or technology-driven companies. However, there is also a need to have a balancing act on corporate governance,” said Tyagi, Mint reported.

Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

For December 19, 2018, Adani Enterprises, Adani Power, Jet Airways and Reliance Capital are present in this list.