Markets eke out record closing highs; Nifty settles above 9,600

The market breadth remained in favour of declines

Markets settled the day on fresh highs with Nifty50 settling above the 9,600 mark for the second consecutive session as arrival of monsoon rains cheere but the gains were capped as the investors booked profit in recent outperformers.

The monsoon, which delivers about 70% of India's annual rainfall, arrived at the southern Kerala coast on Tuesday, in line with forecasts, brightening the outlook for higher farm output and robust economic growth. Simultaneously, the onset is also likely over Lakshadweep, coastal Karnataka, some parts of Tamil Nadu and most parts of northeastern states in the next 24 hours.
 
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