Stock markets live updates: Sensex rises over 500 points; Nifty above 18,000

Stock exchanges and other market infrastructure institutions on Monday came out with a roadmap for the implementation of T+1 (trade plus one day) settlement cycle whereby the mechanism will be introduced in a phased manner from February 25.

The Nifty Private Bank Index was down 1.93%, as IndusInd Bank tumbled 12% after a media report on Friday said whistleblowers had alleged evergreening of loans at the lender's micro-finance arm.

Shares of Pfizer Ltd gained as much as 8.3% after its parent said on Friday that its experimental Covid-19 antiviral pill cut by 89% the chance of hospitalisation or death for adults at risk of severe disease.

Driven by pent-up and deferred demand, India's online furniture and home market is geared up to reach $40 billion in the next five years, a new report showed on Monday. Over the next five years, online furniture and home sales are expected to be growing at a strong 39 per cent CAGR. The online home category includes home decor, furnishings, mattresses and lighting.

The rupee surged 27 paise to 74.19 against the US dollar in opening trade on Monday supported by dovish central banks.At the interbank foreign exchange, the rupee opened strong at 74.25 against the dollar and gained further ground to 74.19 in early deals, a rise of 27 paise over its previous close.On Thursday, the rupee had settled at 74.46 against the US dollar.

Gold prices extended a rally to hit a two-month high on Monday as investors held onto the view that central banks would keep interest rates low for the time being, with focus turning to key inflation data due later in the week.Spot gold rose 0.1% to $1,818.99 per ounce by 0400 GMT, having hit its highest since Sept. 7 earlier in the session. U.S. gold futures gained 0.2% to $1,820.10.

India's biggest-ever initial public offering opens Monday with digital payments platform Paytm looking to raise nearly $2.5 billion, in what has already been a record year for share listings.Paytm is backed by Chinese tycoon Jack Ma's Ant Group, Japan's SoftBank and Warren Buffett's Berkshire Hathaway, which together own around a third of the company.The firm was founded barely a decade ago by Vijay Shekhar Sharma, the son of a schoolteacher who says he learned English by listening to rock music.

Last week, DBS Bank, Southeast Asia's largest bank by assets, announced sterling Quarter 3 profits which beat analysts average forecast on Refinitiv by SGD 130 million. The Singapore-based lender reported a net profit of SGD 1.7 billion (USD 1.26 billion) for the quarter ending September on asset quality resilience and higher fee income.

South Korean shares fell 1% on Monday to their lowest in nearly a month, as investors stayed cautious ahead of inflation data from the United States and China this week. The Korean won traded nearly flat, while the benchmark bond yield fell.

Asian stock markets were mostly lower Monday after Wall Street hit a new high and China reported a double-digit rise in exports.Tokyo, Hong Kong and Sydney declined while Shanghai advanced.Wall Street's benchmark S&P 500 index rose 0.4% on Friday to a record for a seventh day after U.S. employers hired more people in October than expected.

Last time the Federal Reserve moved toward reducing bond buying, it triggered a rush of funds out of emerging markets. This time is different, investors say, as they lay bets on sparkling returns extending in some of Asia's biggest developing economies.

KuCoin, a global leading cryptocurrency exchange, celebrates the 2nd anniversary of the KuCoin Margin Trading platform and will launch a series of celebration events with millions of rewards.