The Nifty50 crossed another milestone as it rose above 11,800 for the first time as the benchmark indices continued to trade higher on Tuesday. The Sensex crossed 400 points to an all-time high of 39,337.

ICICI Bank, Tata Consultancy Services, HDFC Bank, Reliance Industries and Larsen & Toubro led the rally on the Sensex chart.

Earlier in the day, the BSE Sensex touched a fresh record high of 39,277.96 an hour after the NSE Nifty 50 set a fresh benchmark.

According to market analysts, the Indian Meteorological Department’s (IMD) forecast of near-normal monsoon rains and a positive trade data supported the investor sentiments.

The IMD on Monday said that the south-west monsoon rains in 2019 will be near-normal with an expected rainfall of 96 per cent.

Rise in exports from the country also boosted the investor sentiment.

India’s merchandise exports grew 11.02 per cent, on a year-on-year (YoY) basis in March, to $32.55 billion from $29.32 billion reported for the corresponding month of last year, official data showed on Monday.

(With agency inputs)