Sensex, Nifty hit life highs

Markets were on cloud nine as forecast of a normal monsoon triggered massive buying, lifting benchmarks Sensex and Nifty to their all-time closing highs. The Sensex soared 314 points to end at 30,248, while the broader NSE Nifty finished above the 9,400-mark for the first time.

Fertiliser and FMCG counters led the charge after the Indian Meteorological Department on Tuesday said monsoon rainfall will be higher than earlier forecast, which would give a booster dose to the rural economy.

After a strong opening, the 30 share BSE Sensex continued its upward journey to hit a fresh intra-day high of 30,271.60 before ending at 30,248.17, up 314.92 points, or 1.05 per cent. The index broke its previous record closing of 30,133.35 reached on April 26. It also surpassed its intra-day peak of 30,184.22 recorded on April 27.

On similar lines, the NSE Nifty, after hitting an all time high of 9,414.75, settled higher by 90.45 points, or 0.97 per cent at 9,407.30. 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.

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