Sensex gains on positive monsoon forecast, banking stocks lead charge

Broader markets jubilant; BSE Smallcap index registers longest winning streak since 2012

Indian markets snapped their two-day losing streak on Friday as a positive weather forecast provided a boost to consumer and financial services stocks. The benchmark Sensex climbed 391 points, or one per cent, to close at 37,556, while the broader Nifty closed 116 points, or one per cent, higher at 11,361. 

The positive sentiment also echoed in the broader markets as the BSE mid- and small-cap indices gained 0.9 per cent and 1.1 per cent, respectively. All the 19 sectoral indices trading in the BSE closed in the green. Foreign portfolio investors (FPIs) net sold shares worth Rs 58.7 million,