It further stated that Asian indexes were cautiously higher in early Thursday trade, following a mixed close stateside as investors noted Snap's Dollars 2.2 billion loss, and monitored potential fallout on President Donald Trump's policies after FBI Director James Comey was sacked.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) recorded a new closing high of 9,422.40 points - up 15.10 points or 0.16 per cent.
The 30-share BSE Sensex opened higher and soared to hit yet another record high of 30,366.43, but dipped towards the fag-end on profit-booking to end at 30,250.98, up 2.81 points or 0.01 percent.
The Sensex touched a high of 30,016.04 points - crossing the important 30,000-mark - and a low of 29,877.41 points during the day's trade. "IMD's bullish forecast eased concerns over El Nino weather conditions and added further legs to the ongoing rally", Anand James, chief market strategist at Geojit Financial Services, told Business Standard.
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The index broke its previous record closing of 30,133.35 reached on April 26, surpassing its intra-day peak of 30,184.22 recorded on April 27. "Both the benchmark indices are now witnessing firm sentiments and we expect the Indian equities to continue with firm trades in the second half of the session as well".
All the major stocks of the index are trading in green.
Banks also gained as investors pinned their hopes on easing bad loans in coming quarters after the government tweaked its laws last week to help tackle the record $150 billion in troubled bank debts.
Apart from the IMD's favourable monsoon prediction, cues from Asian markets also lifted investor sentiments, as did foreign institutional investors who bought equities worth Rs 333 crore. Shanghai Composite Index too was up 0.18 per cent. On the other hand, power index fell the most by 1.15 per cent, oil & gas 0.89 per cent, PSU 0.67 per cent and capital goods 0.45 per cent. Also, the Nifty metal gained for third consecutive day. It was followed by Bajaj Auto 3.12 percent, Adani Ports 2.28 percent, SBI 1.15 percent, ITC 1.00 percent, Sun Pharma 0.93 percent and Wipro 0.89 percent. Hong Kong's Hang Seng rose 0.36 per cent, while Japan's Nikkei shed 0.26 per cent in early trade.