Monsoon delivers about 70 per cent of India's annual rainfall, critical for crops such as rice, cane, corn, cotton and soybeans as almost half of the country's farmland lacks irrigation.
The 30-share barometer was trading higher by 159.62 points, or 0.53 per cent, at 30,092.87 with all sectoral indices led by FMCG, metal, consumer durables, oil & gas and power leading the rally. The index moved from 9,300 to 9,400 in 11 trading sessions.
The BSE Sensex zoomed 264 points to quote at an all-time high of 30,197.66, while the broader NSE Nifty scaled 9,390.15. This surpassed its previous record close of 9,359.90 on May 4, as well as the intra-day high of 9,377.10 hit on May 5.
"IMD's bullish monsoon forecast eased concerns over El Nino weather conditions and added further legs to the ongoing rally. Earnings positivity has obviously been keeping markets buoyant and prospects of FII turning buyers in equities also kept markets soar higher", said Anand James, Chief Market Strategist, Geojit Financial Services Ltd. "We believe that this is likely to be the next trigger for the markets", Vaibhav Agrawal, Head of Research and ARQ at brokerage Angel Broking, said in a note on Wednesday.
Trooper slaying suspect shot dead
Then, without warning, Sealy pulled out a handgun that had been tucked in his waistband and shot Ballard in the upper body. When Ballard walked to the passenger side of the auto , he asked Sealy to step out of the vehicle, and a struggle ensued.
The gauge had gained 74.45 points in the previous two sessions.
In investments, provisional data with the exchanges showed that FIIs purchased stocks worth Rs 893.36 crore, while domestic institutional investors (DIIs) divested scrip worth Rs 229.73 crore. The stock got listed on both the NSE and BSE. Of these, more than half or 40 stocks hit their fresh lifetime highs on the BSE. Bucking the trend, shares of Bharti Airtel were down 0.73 per cent to Rs 348.70 ahead of the quarterly earnings to be announced later in the day.
Indian shares rose to a record on Wednesday, as forecast of above-average monsoon rains this year buoyed hopes of faster economic growth, lifting demand for stocks such as Hindustan Unilever.
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