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( As on 11/09/2017 10:21) Markets extend gains; L&T, Tata Motors shares advance

The key domestic benchmark indices were trading in a positive terrain 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.

Share price of Cyient added 2 percent intraday as it is going to acquire 100 percent equity ownership in B&F Design Inc. Also, shares of White Organic Agro locked at 5 percent upper circuit on the back of prestigious path breaking order from Patanjali Ayurveda.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31846 up by 158.48 points or by 0.5 per cent, while the NSE Nifty was at 9985.45 points, trading higher by 50.65 points or by 0.51 per cent.

The BSE Sensex touched an intraday high of 31874.13 and an intraday low of 31797.89 while the NSE Nifty touched an intraday high of 10000.55 and an intraday low of 9968.8.

The top gainers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1205.00,+2.79 per cent), Tata Motors Ltd. (Rs. 213.50,+1.88 per cent), Hindustan Unilever Ltd. (Rs. 1227.00,+1.68 per cent), Maruti Suzuki India Ltd. (Rs. 8059.50,+1.09 per cent), HDFC Bank Ltd. (Rs. 1806.95,+1.06 per cent), among others.

Meanwhile, Sun Pharmaceutical Industries Ltd. (Rs. 468.40,-0.56 per cent), Power Grid Corporation of India Ltd. (Rs. 212.00,-0.54 per cent), State Bank of India (Rs. 270.60,-0.50 per cent), Bharti Airtel Ltd. (Rs. 401.25,-0.48 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 161.25,-0.40 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 2187 shares traded, 1421 shares advanced, 664 shares declined while 102 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.