Monsoon forecast lifts Sensex, Nifty to new highs

Key Indian equity indices -- the BSE Sensex and the NSE Nifty -- provisionally closed at new highs on Wednesday, as the government's weather forecaster predicted healthy monsoon rains.

The boost in market sentiments came after the India Meteorological Department (IMD) forecast an average monsoon with 100 per cent rainfall for 2017 from an earlier prediction of 96 per cent.

According to market observers, healthy buying in automobile, FMCG and healthcare stocks, too, supported the upward trajectory.

The NSE Nifty crossed the 9,400-mark for the first time ever to provisionally close at 9,409.85 points -- up 93 points or 1.00 per cent.

Similarly, the BSE Sensex, too, closed at a new high of 30,248.17 points (at 3.30 p.m.) -- up 314.92 points or 1.05 per cent.

The benchmark indices also saw record intra-day highs as the NSE Nifty touched 9,414.75 points and the BSE Sensex reached 30,271.60 points.

--IANS

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