Going ahead, we expect Nifty to continue its upside momentum; however, the level of 10,882 is likely to act as an immediate resistance.A breach of this resistance will allow the index to scale towards the zone of 10,920-10,950. On the flip side, the gap area which was formed on December  27 (10747.50-10764.45) is likely to act as support for the index. 
Stocks in news: Tata Steel Ltd, Rane (Madras) Ltd, Lemon Tree, Tata Power, Selan Exploration Technology, Kansai Nerolac Paints, Suven Life Sciences.

Indian markets are expected to extend their jubilant run, shrugging of mixed cues from the Asian peers. The SGX Nifty indicates that Nifty could open around the level of 10,867, with a gain of 58 points.    

The stocks that are most likely to witness significant movement on the bourses on December 28, 2018 are Selan Exploration Technology, Hindustan Construction Company, Man Industries (India), Infosys and Suven Life Sciences.

Dr. Reddy’s Laboratories has bagged the USFDA approval for Sevalamer Carbonate for oral suspension. Shares of the company, however, were trading in the red zone. 

The Union Cabinet has given in principle approval for the strategic sale of 52.63 per cent government stake in REC Limited (REC) to Power Finance Corporation Limited (PFC). The deal also involves the transfer of management control to PFC.

The Board of Directors of Selan Exploration Technology Limited (SETL) announced the buyback of equity shares for an aggregate amount of Rs. 25 crore. They also declared an interim dividend of Rs. 5 per equity share for FY2018-2019.

Following stocks are close to their 52-week low as at 1.54 p.m. on December 27, 2018.

Sun Pharma’s arm, the Massachusetts based DUSA Pharmaceuticals, has been awarded a preliminary injunctive relief from the US court in the case of patent contravention.

The markets on December 27, 2018 opened up. BSE Sensex is trading at 35,884.51, up by 234.57 points and the Nifty is trading at 10,800.60, up by 70.75 points. 

Suven Life Sciences, a biopharmaceutical company, surges by almost 3 per cent as it has secured product patents in Brazil and Eurasia for the treatment of neurodegenerative diseases. The product patent acquired by the company in Brazil will be valid through 2023, while the product patent acquired in Eurasia will be valid through 2024.