BSE regains 34000-mark; Nifty well above 10500 points

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The benchmark Sensex of the Bombay Stock Exchange (BSE) extended its rising streak for the ninth session after it advanced nearly 100 points in early hours of trade today following a forecast of a normal monsoon for the year.

The 30-share index was trading higher by 92.66 points (0.27 percent) 34398.09 with power, PSU, metal, infrastructure, capital goods, and infrastructure and auto sector stocks leading the trend. Earlier the gauge had gained nearly 1300 points in the previous eight sessions.

The broader 50 shares NSE Nifty rose 29.20 points (0.27 percent) to 10557.55.

The Indian Meteorological Department on Monday said the country will receive a normal monsoon rainfall this year, raising hopes for higher farm output and a boost to the rain-dependent rural economy.

A mixed trend in other Asian markets following a positive lead from Wall Street also influenced sentiment.

Major gainers were gainers were M&M, Power Grid, Tata Steel, NTPC, Coal India, Tata Motors, Coal India, Dr. Reddy’s, Bajaj Auto and Adani Ports rising up to 3.27 percent.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 308.13 crores on Friday, provisional data showed.

In other Asian markets, Hong Kong’s Heng Seng was up to 0.02 percent, Japan’s Nikkei ended higher 0.01 percent in early trade. Shanghai Composite Index, however, fell 0.25 percent.

The US Dow Jones Industrial Average ended 0.87 percent higher in yesterday’s trade. Nasdaq composite index was up by 0.70 percent with S&P 500 rising up by 0.81 percent.

Meanwhile, the rupee plunged by 29 paise (0.44 percent) on Monday to close at a six-month low of 65.49 against the US currency on widening trade deficit concerns amid heightened geopolitical worries.

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