Shares of nine fertiliser companies rose by 0.11% to 4.66% at 15:00 IST on BSE after private weather forecasting agency Skymet predicted that the southwest monsoon would be normal this year.
Meanwhile, the S&P BSE Sensex was up 568.66 points, or 1.72% to 33,587.73.Deepak Fertilisers & Petrochemicals Corporation (up 4.66%), Gujarat State Fertilizers & Chemicals (up 2.97%), Zuari Global (up 2.3%), Rashtriya Chemicals and Fertilisers (up 1.71%), Tata Chemicals (up 1.29%), National Fertilizers (up 1.13%), Fertilisers & Chemicals Travancore (up 1.06%), Chambal Fertilisers & Chemicals (up 0.24%) and Coromandel International (up 0.11%), edged higher.
According to Skymet Weather, monsoon in 2018 is likely to remain normal at 100% (with an error margin of +/- 5%) of the long period average (LPA) of 887 mm for the four-month period from June to September. The agency also said that there was no possibility of a nationwide drought or deficient rainfall.
Fertiliser stocks rose as normal monsoon could propel farm growth.
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