Sensex Zooms 160 Points On Normal Monsoon Forecast

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At the close, the 30-share benchmark index, BSE Sensex ended flat with a rise of 2.81 points or 0.01% at 30,250.98, 15 components posting rise.

The NSE Nifty touched a new intra-day high of 9,414.75 points and the BSE Sensex of 30,271.60 points.

Meanwhile, the NSE Nifty regained the 9,300-mark by rising 24.05 points, or 0.26 per cent, to trade at at 9,309.35. The market breadth was positive as 1,551 shares advanced against a fall of 789 shares, while 127 shares were unchanged.

The monsoon delivers about 70 per cent of India's annual rainfall and is a critical factor as almost half of the country's farmland lacks irrigation. The stock later pared some gains to end 8% higher.

Brokers said that continued buying by foreign funds as well as retail investors after forecast of a normal monsoon this year lifted the key indices to new highs. "Financial services stocks were also seen rallying reflecting markets' expectations for further strength in equities", said Anand James, Chief Market Strategist, Geojit Financial Services in a note.

It had lost 267 points in the previous session on Friday on global weakness due to a renewed slide in crude oil prices.

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Major gainer Hero MotoCorp rose 4.26 percent.

Among the sectoral indices, consumer durables rose 1.65 per cent, auto 0.98 per cent, metal 0.69 per cent, teck 0.57 per cent, healthcare 0.55 per cent and IT 0.29 per cent. In the Asian region, Hong Kong's Hang Seng rose 0.23 per cent, while Japan's Nikkei was up 0.15 per cent in early trade.

Telecom operator Bharti Airtel was among the top losers on the Sensex on Thursday, ending down 1.8% at 366.10 rupees. "European indices like FTSE 100 and DAX now traded in the positive trend and CAC 40 traded lower".

However, power fell 1.22 percent, utilities 1.03 percent, oil&gas 0.93 percent, energy 0.63 percent and capital goods 0.51 percent.

The benchmark BSE Sensex gained as much as 0.91 per cent to 30,207.13, its highest ever.

The shares of the mid-cap and small-caps showed good trade as indices of both were up, approximately to a percent each.

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