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Indian benchmark indices soared high throughout the day including the Nifty touching the 9,400-mark for the first time. Markets have gained momentum as shares of consumer goods and agriculture-dependent companies showed confidence after the India Meteorological Department (IMD)’s forecast of a better monsoon rainfall.
The NSE Nifty rose to a record high of 9,414.75, crossing its previous milestone recorded on 5 May. As the day ended, the NSE Nifty was pegged at 9,407.30. Today Nifty opened at 9,339.65 and gained 0.97% to reach 9,407.30. Also Bombay Stock Exchange (BSE) gained 1% to touch 30,271.60, its highest ever.
The sentiments are fueled by the victory of Emmanuel Macron, a market-friendly centrist, in French elections. Despite FBI Director James Comey’s dismissal by US President Donald Trump, Markets showcased bullishness. Though there are still apprehensions from the North Korean front, but Markets performed better considering Indian domestic optimism.