Rain dance at Sensex: Closes at fresh all-time high after monsoon forecast

May 10, 2017 16:21

The Sensex rises to 314.92 points to end at 30,248.17. Nifty closes at 9,407.30 with indices closing at a fresh all-time high. The rally was boosted on the back of better than forecast monsoon rains.

India is likely to receive above average monsoon rainfall as concern over the El Nino weather condition has eased in the past few weeks, the chief of the India Meteorological Department said on Tuesday, raising prospects of higher farm and economic growth.

The IMD on 18 April forecast this years monsoon rains at 96% of a 50-year average of 89 cm.

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