Expectations of above average monsoon rains and a healthy expansion in industrial production, along with value buying, swelled the Indian equity markets yesterday.
Consequently, both the key indices of the Indian equity markets closed the day’s trade in the green. 
The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade higher by 37.55 points, or 0.49%, at 7,708.95 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,056.47 points, closed at 25,145.59 points – up 123.43 points or 0.49% from the previous close at 25,022.16 points.
The Sensex touched a high of 25,180.02 points and a low of 24,996.44 points during the intra-day trade.
The BSE market breadth was tilted in favour of bulls – with 1,521 advances and 1,101 declines.
The barometer index had closed in the positive territory on Monday. It augmented by 348.32 points or 1.41%. The NSE Nifty had edged higher by 116.20 points or 1.54%.
Initailly yesterday, both the key indices opened on a flat note, in-sync with their Asian peers.
However, value buying at lower levels and short-covering ahead of the quarterly results season lifted prices.
The Q4 results season started from April 8. Infosys is expected to be the first bluechip firm to come out with its results on April 15.
Besides, news of an above average monsoon rains cheered investors. The IMD (India Meteorological Department) forecasted rains to be at 106% of the long-term average on account of receding El Nino conditions. 
In addition, expectations of a healthy Index of Industrial Production (IIP) numbers and contained figures of retail inflation (Consumer Price Index), buoyed sentiments.Notwithstanding, gains were capped by unwinding of long positions ahead of the extended weekend. The equity markets will be closed on account of Ambedkar Jayanti on April 14 and Ram Navami on April 15.
“Positive news on an above average monsoon rains and expectations of an expansion in industrial production and contained inflation figures, lifted stock prices,” Anand James, chief market strategist, Geojit BNP Paribas Financial Services, told IANS.
“Value buying at lower levels and firm global crude oil prices, too, supported the equity markets’ rise.”
Vaibhav Agarwal, vice president and research head at Angel Broking, cited that markets closed in the green after forecasts of a positive monsoon cheered investors’ sentiments. Nitasha Shankar, senior vice president for research with YES Securities informed that broader markets outperformed the headline indices, as high beta stocks witnessed fresh buying. 
“Metal, PSU (public sector undertaking) bank and FMCG (fast moving consumer goods) indices ended in the red led by profit booking. Media, auto, pharma and private sector bank indices witnessed buying,” Shankar noted.
Foreign institutional investors (FIIs) were net buyers during the day’s trade, while the domestic institutional investors (DIIs) sold stocks.Data with stock exchanges showed that FIIs invested Rs3,077.20mn, whereas DIIs sold scrip worth Rs617.40mn.
The S&P BSE automobile index surged by 286.40 points, followed by the healthcare index, which increased by 152.06 points; and the oil and gas index gained by 111.49 points.
In contrast, the S&P BSE metal index dipped by 104.57 points.
Major Sensex gainers during yesterday’s trade were GAIL, up 3.87% at Rs365.20; Maruti Suzuki, up 2.82% at Rs3,576.65; Hero MotoCorp, up 2.47% at Rs3,049.95; Tata Motors, up 2.40% at Rs395.10; and Adani Ports, up 1.92% at Rs233.30.
Major Sensex losers during the day’s trade were Coal India, down 2.28% at Rs274.45; Tata Steel, down 2.11% at Rs324.15; ITC, down 1.18% at Rs322.65; HDFC Bank, down 0.55% at Rs1,064; and State Bank of India (SBI), down 0.24% at Rs187.70.
The Indian rupee yesterday fell from initial gains to trade lower by 8 paise at 66.52 against the American currency in late morning deals yesterday on bouts of dollar demand from importers and banks.