April 17, 2018 / 6:56 AM / 5 days ago

Sensex, Nifty mark longest winning run in over 3 years

(Reuters) - Indian shares ended higher for a ninth straight session on Tuesday, marking their longest winning streak in over three years, as consumer stocks gained on forecasts of average monsoon this year.

The Bombay Stock Exchange (BSE) building is pictured next to a police van in Mumbai, India, August 24, 2015. REUTERS/Danish Siddiqui/File Photo

After two years of normal monsoons, the India Meteorological Department on Monday predicted yet another year of normal rains, raising the possibility of higher farm and economic growth in Asia’s third-biggest economy.

The broader NSE Nifty ended 0.19 percent higher at 10,548.70, marking its longest winning streak since late January 2015.

The benchmark BSE Sensex posted its longest winning run since early September 2014, after closing 0.26 percent higher at 34,395.06.

The Nifty FMCG index ended nearly a percent higher, with Kit Kat chocolate maker Nestle India Ltd and diversified consumer goods manufacturer Hindustan Unilever Ltd hitting their record highs during the session.

Reporting by Vishal Sridhar in Bengaluru, Editing by Sherry Jacob-Phillips

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