Sensex, Nifty gain on strong monsoon, global cues

Mumbai: Extending their bull run for the 8th straight session, the BSE Sensex rose by 109 and the NSE Nifty gained over 30 points in early trade on Tuesday, driven by above normal monsoon and positive global cues.

The benchmark BSE Sensex climbed 109.61 points or 0.39% to trade at 27,839.82 with capital goods, metal, PSU and healthcare stocks leading the rally.

The benchmark index had gained 1,359.23 points in the previous seven sessions.

The National Stock Exchange index Nifty rose 30.50 points or 0.36% to 8,383.60.

Sentiments remained strong after a better-than-forecasted monsoon reignited the optimism among market participants that a rate cut by the RBI may be a possibility, brokers said.

Besides, fresh capital inflows by foreign funds on the domestic bourses and a firming trend in global markets on hopes for a Greek bailout deal, boosted sentiments, they said.

Among other Asian markets, Hong Kong’s Hang Seng index was up by 0.20% , while Japan’s Nikkei jumped 1.62% in early trade on Tuesday.

The US Dow Jones Industrial Average ended 0.58% higher on Monday’s trade.

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