Indian Stock Market Trading Trending News

For news on Indian Stock Market Tips,Mcx Commodity Trading Tips please visit us at www.marketmagnify.com/services.php or call at 07314759300.

The market extended rally in morning with the Sensex climbing 400 points and the Nifty eyeing 7850 level. All sectoral indices continued to be positive, tracking good monsoon forecast, better-than-expected CPI & IIP data and positive global cues. The 30-share BSE Sensex rallied 398.43 points or 1.58 percent to 25544.02. The 50-share NSE Nifty rose 121.45 points or 1.58 percent to 7830.40 that recovered 1000 points from February low of 6825.

Forecast for normal monsoon rains, after two back-to-back droughts, is the single biggest trigger for today's rally, traders said. Adequate monsoon rains will help raise agricultural productivity, adding to the country's GDP growth. Agriculture accounts for 14 per cent of India's $2 trillion economy. Normal monsoon will revive the farm sector, which has been weighed down by subdued agriculture output and falling farmers' income. The farm sector supports two-thirds of the country's population.