A morning walk down Dalal Street | Nifty must close above 10,950 for bulls to take control

The Nifty50 which was trading above 10800 in morning trade settled at 10791, up 53 points.

On the global front, British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet US demands to open its markets we saw renewed focus on risk assets across the globe. 

Barring the metal and telecom index, all other sectoral indices on the National Stock Exchange (NSE) closed the day in the green. Realty, capital goods, and consumer durable rose over 1 percent each.

Technically, 10929 will be important resistance level to watch out for. Also, as long as Nifty trades below 10800, 10749, chances of profit booking remains high.

The rupee snapped its three-day losing streak to end 33 paise higher at 71.68 against the US dollar on December 13 amid a weak greenback and softening oil prices.