May 18, 2015 / 6:53 AM / 4 years ago

Sensex gains over 1 percent on forecast of timely monsoon

A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai February 6, 2014. REUTERS/Mansi Thapliyal/Files

MUMBAI (Reuters) - The BSE Sensex shares rose nearly 1.5 percent on Monday, its second consecutive session of gains, as blue-chips rose after forecast of a timely monsoon raised hopes the Reserve Bank of India bank would lower interest rates in June.

India’s weather office said on Thursday it expects the monsoon rains to hit the southern Kerala coast around May 30, a timely arrival for farmers worried about dry weather from an El Nino weather pattern this year.

The benchmark BSE Sensex ended 1.33 percent higher, while the broader Nifty gained 1.35 percent after each rose as much as 1.5 percent.

Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee

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