Sensex, Nifty hit new all-time highs on normal monsoon forecast

The benchmark BSE Sensex rallied about 160 points to trade above the key 30,000-mark in opening trade on Wednesday and hit a new all-time high of 30,197.66 buoyed by forecast of a normal monsoon this year amid positive global cues. While the National Stock Exchange Nifty hit a fresh all-time high of 9,386.85 on Wednesday. 

Sentiments got a leg up after data showed that foreign funds, which were largely net sellers on the Indian bourses for some time, made fresh purchases in yesterday's trade, brokers said.

The 30-share barometer hit a new all-time high of 30,197.66 intraday and came down later to 30,188.28, up 255.03 or or 0.85% from previous close at 1019 hours, with all sectoral indices led by FMCG, metal, consumer durables, oil & gas and power leading the rally.

The gauge had gained 74.45 points in the previous two sessions.

The Indian Meteorological Department (IMD) on Thursday said the monsoon this year could be 'normal' and bring 100% rainfall instead of 96% it predicted earlier, which is expected to give a booster dose to the rural economy.

Other Asian markets were trading higher following an overnight positive lead from European and US markets.

Among other Asian markets, Hong Kong's Hang Seng was up 0.64% while Japan's Nikkei gained 0.30% in early trade. Shanghai Composite Index too was up 0.18%. 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)