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Shares of consumer goods and agri stocks gained as monsoon rains are likely to end late .
Agriculture-dependent firms gained after the weather office said monsoon rains are likely to end later than usual this year.
An expected low-pressure area has sprung up over the Bay of Bengal and is forecast to intensify by tomorrow, boosting the monsoon over East and Central India as well as the Konkan region.
An extended monsoon period would help Indian farmers recover from two droughts and boost the demand for an array of consumer goods, as more than 60 per cent of India’s 1.3 billion people live in villages.
Finance Minister Arun Jaitley singled out good rains as one of the factors that would help India withstand Britan’s vote to leave the EU.
Hindustan Unilever Ltd rose as much as 1.72 per cent, Dabur India Ltd gained as much as 2.14 per cent; Monsanto India Ltd jumped as much as 8.2 per cent, ITC Ltd climbed as much as 1.2 per cent, Kaveri Seed Co Ltd surged 2.9 per cent, and Insecticides (India) Ltd rose as much as 3.3 per cent.
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