Sensex extends gains on normal monsoon forecast

Extending its rising streak for the ninth session, the benchmark BSE Sensex advanced nearly 100 points in opening trade today, after forecast of a normal monsoon for the year.

The 30-share barometer was trading higher by 92.66 points, or 0.27 per cent, at 34,398.09, with power, metal, PSU, infrastructure, realty, capital goods and auto sector stocks leading the trend.The gauge had gained 1,286.36 points in the previous eight sessions.

Similarly, the NSE Nifty rose 29.20 points, or 0.27 per cent, to 10,557.55.

The Indian Meteorological Department yesterday said the country will receive "normal" monsoon rainfall this year, raising hopes for higher farm



output and a boost to the rain-dependent rural economy.

Mixed trend at other Asian markets following a positive lead from Wall Street also influenced sentiment.

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

Meanwhile, among other Asian markets, Hong Kong's Hang Seng was up 0.02 per cent, Japan's Nikkei edged higher 0.01 per cent in early trade. Shanghai Composite Index, however, fell 0.25 per cent.

The US Dow Jones Industrial Average ended 0.87 per cent higher in yesterday's trade.