Equity markets: Good rains and new highs would lead to further upside

The broader indices gained and saw the BSE100, BSE200 and BSE500 gain 2.70 per cent, 2.69 per cent and 2.59 per cent respectively

Markets were on a roll last week and hit new lifetime highs. The rise was helped in no small way by the outbreak of monsoon in the financial capital and Maharashtra where there have been decent rains for the last 10 consecutive days.

BSESENSEX gained 1,739.19 points or 2.76 per cent to close at 64,718.56 points while NIFTY gained 523.55 points or 2.80 per cent to close at 19,189.05 points. The broader indices gained as well and saw the BSE100, BSE200 and BSE500 gain 2.70 per cent, 2.69 per cent and 2.59 per cent respectively. BSEMIDCAP gained 2.86 per cent while BSESMALLCAP was up 1.91 per cent. The benchmark indices gained on all the four trading sessions. The intraday highs were 64,768.58 points on BSESENSEX and 19,201.70 points on NIFTY.

The Indian Rupee remained unchanged against the US Dollar at Rs 82.04. Dow Jones had a great week gaining on three of the five trading sessions. It was up 680.17 points or 2.02 per cent to close at 34,407.60 points.