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Indices break 2-day losing streak; Sensex up 312 pts, Nifty ends at 11,796

The benchmark indices ended the past two sessions in the red on concerns over deficient rains and India-US trade tensions

Sundar Sethuraman  |  Mumbai 

sensex, bse

The benchmark advanced on Tuesday as of the swift progress of rains buoyed investor sentiment. Reports quoting weather department officials said the had covered nearly half of the country and conditions were favourable for further advancement into the central and western parts this week.

The ended at 39,435, up 312 points, or 0.80 per cent, while the 50-share closed at 11,796, up 97 points, or 0.83 per cent.

The benchmark ended the past two sessions in the red on concerns over deficient rains and India-US trade tensions. Last week, the India Meteorological Department said the cumulative rainfall during this year's southwest season was below the long period average (LPA) by 43 per cent. LPA is the average rainfall received by the country as a whole during the southwest for 50 years.

Indices break 2-day losing streak; Sensex up 312 pts, Nifty ends at 11,796

The monsoon season accounts for a huge chunk of India's annual rainfall and delay in rains will affect the sowing season. The have been on the tenterhooks lately due to concerns over weak corporate fundamentals and the looming crisis in the non-banking financial company (NBFC) sector. Investors are also concerned about a slowdown in the economy and debt defaults. Market players said a rally in the would depend on policy action by the government to revive economic growth and corporate earnings.


Indices break 2-day losing streak; Sensex up 312 pts, Nifty ends at 11,796

First Published: Wed, June 26 2019. 00:05 IST
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