Markets hold gains, continue trading near fresh highs; HUL, Airtel lead

Benchmark indices held on to their gains, with indices trading around their fresh high marks as IMD’s new monsoon forecast raised prospects of higher agricultural and economic growth, cheering the investors. Sentiment was also lifter by Asian stocks, which edged higher for a third consecutive day, as investors focused on strong corporate earnings and the dollar gave back some of its recent gains. MSCI's Asia ex Japan index rose 0.3% after posting modest gains in the previous session. It hit a two-year high last week. India is likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased, the chief of the weather office said on Tuesday. IMD earlier estimated this year's monsoon rains at 96% of the 50-year average of 89 cm. Commodity Trading Tips

 
The broader NSE index rose as much as 0.81% or 75 points to a record high of 9,392.50, surpassing its previous milestone of 9,377 recorded on May 5 while the 30-share Sensex rose as much as 280 points to its record high of 30,213. It had also hit its last record high of 30,176.55 on May 5. At 1:25 pm, BSE Sensex was up 263 points at 30,196 while the broader Nifty50 was ruling 71 points higher at 9,388. In broader markets, BSE Midcap and BSE Smallcap indices gained 0.8% each, in line with the benchmark indices. Pharma, banks, and auto indices gained over half a percent on the Nifty, while the IT index was down by half a percent. Nifty Trading Tips