FIRST TRADE: Nifty hits new high of 20,110.35; Sensex up over 300 pts; L&T rises over 2.5%

Stock market today: Continuing their terrific run, the benchmark indices resumed trading on Tuesday, September 12, with impressive gains. The Nifty50 opened above the 20,000 mark for the first time and hit an all-time high of 20,110.35 in the opening deals. The S&P BSE Sensex also opened over 300 points higher. The rally in the headline indices can be attributed to the positive sentiment after the G20 Summit. Among individual stocks, Larsen and Toubro (L&T) was the top gainer on the NSE. Banks, financial services, metal, and pharma companies were the top gainers. L&T gained after the company increased its buyback price by Rs 200.

Last seen, the S&P BSE Sensex was up 300.3 points, or 0.45 per cent at 67,427.38, and the NSE Nifty was up 82.15 points, or 0.41 per cent at 20,078.5.

In the Nifty 50 basket, 35 stocks advanced and 13 declined.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 were also trading in green.

Nifty Bank was trading 0.40 per cent higher at 45,753.45.

BUZZING STOCKS

L&T shares were up over 3 per cent after the company increased its buyback offer price by Rs 200 to Rs 3,200 from Rs 3,000 earlier.

L&T Finance Holding shares were up over 1 per cent after reports about block deals. 

Steel Strip Wheels was up over 3 per cent after anti-dumping duty news. 

Rishabh Instruments shares were up over 2 per cent after the block deal.

Conversely, sugar stocks — EID-Parry, Shree Renuka Sugars, and Rajeshshree Sugars were down after the government asked for complete information about stock, details sought from all dealers, stockists, wholesalers, big chain retailers, and processors. 

Oracle Financial Services stock was down after the company projected current-quarter revenue below Wall Street targets.

ACC, Ambuja Cements, The Ramco Cements, Shree Cements and JK Lakshmi Cement were down after Nomura suggested a price hike in East India.

GLOBAL MARKETS 

Asian stock markets edged up on Tuesday while comments from central banks in China and Japan interrupted the dollar's ascent, giving traders a breather ahead of U.S. inflation data that could influence when or if the Federal Reserve raises rates further.

(With agency's inputs)

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