Sensex crosses 30,000: Markets scale new peak on monsoon forecast

Nifty closes at 9,407, Sensex at 30,248

Equities continue to scale new peaks, defying warnings by many market pundits of a possible consolidation. The S&P BSE Sensex on Wednesday gained 315 points, or 1.05 per cent, to close at 30,248, and the Nifty breached 9,400 for the first time to close at 9,407.3,
 
90.4 points, or 1 per cent, higher than its previous closing. The broader markets witnessed a similar trend with the mid- and small-cap indices rallying 0.87 per cent and 0.75 per cent, respectively.
 
Since the Sensex touched 30,000 intra-day on April 5, many experts have been warning that a market correction, or