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( As on 11/09/2017 09:22) Markets open higher in early trade

The key domestic benchmark indices opened higher in the morning trading session amid robust cues from the other Asian peers.

The markets may react to the RBI report that forex reserves surged by a massive USD 3.572 billion to touch a record high of USD 398.122 billion for the week ended September 1, on account of rise in foreign currency assets.

On the economy front, work on India’s first post-GST Union Budget 2018-19 will start next week with the finance ministry issuing timelines for different processes that will culminate with its presentation in February.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31865.47 up by 177.95 points or by 0.56 per cent, while the NSE Nifty was at 9986.35 points, trading higher by 51.55 points or by 0.52 per cent.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 213.05,+1.67 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 2194.45,+1.65 per cent), Larsen & Toubro Ltd. (Rs. 1188.00,+1.34 per cent), Cipla Ltd. (Rs. 557.45,+1.23 per cent), Coal India Ltd. (Rs. 257.30,+1.12 per cent), among others.

Meanwhile, Power Grid Corporation of India Ltd. (Rs. 210.95,-1.03 per cent), Kotak Mahindra Bank Ltd. (Rs. 1004.50,-0.31 per cent), Tata Steel Ltd. (Rs. 655.00,-0.08 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 161.80,-0.06 per cent), ITC Ltd. (Rs. 272.30,-0.06 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1083 shares traded, 855 shares advanced, 198 shares declined while 30 were unchanged.

On the global front, Asian stocks were trading higher today as the investors digested headlines concerning developments out of the People's Bank of China and European Central Bank announced at the weekend, while the Wall Street closed mixed in the previous trading session as investors braced for potential damage from Hurricane Irma as it drove towards Florida.