NSE Nifty crosses 9,400 for first time; Sensex hits new lifetime high on upbeat monsoon rainfall prediction by IMD

Making history, the 50-scrip NSE Nifty crossed the 9,400-mark for the first time in its history on Wednesday at close to end of the session even as the 30-scrip BSE Sensex hit lifetime high of 30,271 during the day.

The buoyancy in Indian stock markets is due to the upbeat forecast for monsoon rainfall this year, by the India Meteorological Department (IMD).

On Tuesday, the IMD projected monsoon to be “normal” this year, leading to 100 percent rainfall as against the earlier forecast of 96 percent.

This lifted sentiments for the stock markets, leading to a spurt in FMCG and auto stocks. Hindustan Unilever Ltd. (HUL) rose to a new high of Rs 998 before settling down at Rs 993, up 4.32 percent.


read more- IB Times

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