Indian markets hit new highs today with Nifty hitting 18,000 for first time as gains in Reliance Industries and banking stocks were offset by weakness in IT stocks after Tata Consultancy Services (TCS) reported September-quarter results. The Sensex was was up about 400 points to register a new high of 60,441.

Here are 10 updates from Indian markets: 

Reliance Industries or RIL rose 1 percent after the Mukesh Ambani-led company said it would buy Norwegian-headquartered solar panel maker REC Solar Holdings for $771 million and an up to 40% stake in India's Sterling and Wilson Solar.

The Nifty auto index was up 2.5% on expectations of a strong festive season while the banking index rose 1%. 

Jaguar Land Rover (JLR) parent Tata Motors soared as much as 8.5%, its highest since January 2018, and was the top gainer on the Nifty 50 index. The stock is up roughly 23% this month, after having gained 16% in September. Tata Motors had Friday said that JLR's global retail orders were at record levels.

“Broader indices continue to remain resilient with healthy buying interests from retail as well as institutional participation. Aggregate prices are reflecting optimism on the subject of earning reporting. With most good news priced in, prices are left more vulnerable to disappointment in earning reportings. Investors are advised to remain cautious with stock-specific decisions in the near term while the positive outlook for broader markets in the medium term remains intact," said Nirav Karkera, Head of Research, Fisdom.

Nifty's IT index tumbled more than 4% with Tata Consultancy Services leading losses with a 6% drop on lower-than-expected earnings. 

"If Nifty can sustain 17,950 on a closing basis, the Nifty should be headed to 18200 as the next pit stop. The updated support for the week is 17800. This makes for a good risk/reward ratio and hence dips or intraday corrections can be utilized to enter fresh long positions," says Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

The Indian rupee however fell 17 paise to 75.16 at day's low against the US dollar as rising crude prices and strength of the American currency in the overseas market weighed on investor sentiments. On Friday, the rupee had settled at 74.99 against the US dollar. Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs64.01 crore, as per exchange data.

Global oil benchmark Brent crude futures advanced 1.43 per cent to $83.57 per barrel.

On Friday, Indian shares logged their best week in over a month after the central bank kept key interest rates unchanged as expected and promised adequate liquidity to support the economic recovery.

Meanwhile, Asian shares and U.S. stock futures inched higher on Monday as China's blue chip index rose 1%, while high oil prices kept inflation worries intact.