Mumbai: The benchmark BSE Sensex rallied about 160 points to trade above the key 30,000-mark in opening trade Wednesday, buoyed by forecast of a normal monsoon this year amid positive global cues.
Sentiments got a leg up after data showed that foreign funds, which were largely net sellers on the Indian bourses for some time, made fresh purchases in Tuesday's trade, brokers said.
The 30-share barometer was trading higher by 159.62 points, or 0.53 percent, at 30,092.87 with all sectoral indices led by FMCG, metal, consumer durable, oil & gas and power leading the rally.
The gauge had gained 74.45 points in the previous two sessions.
On similar lines, the NSE Nifty rose 42.70 points, or 0.46 percent, at 9,359.55.
The Indian Meteorological Department (IMD) Tuesday said the monsoon this year could be 'normal' and bring 100 percent rainfall instead of 96 percent it predicted earlier, which is expected to give a booster dose to the rural economy.
Other Asian markets were trading higher following an overnight positive lead from European and US markets. Among other Asian markets, Hong Kong's Hang Seng was up 0.64 percent while Japan's Nikkei gained 0.30 percent in early trade. Shanghai Composite Index too was up 0.18 percent.