While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
Drought fears will subside if the momentum generated is maintained in August.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
The metropolis also saw two other incidents of wall collapse amid heavy rains since Friday, injuring five persons.
The situation in fact is not that worrying for Thursday and IMD regional director Ganesh Das said the rain is expected to be "light and moderate".
ISRO chairman S Somanath said the success gave the space agency "greater confidence," as the GSLV will be next deployed in the NISAR mission, a collaborative effort with the US' NASA.
Severe cyclonic storm Michaung crossed south Andhra Pradesh coast close to Bapatla district between 12.30 pm and 2.30 pm on Tuesday with maximum gales of up to 90-100 km per hour speed, said an Amaravati Meteorological Centre official.
The city went under cloud cover and witnessed incessant rainfall from afternoon, with parts of the city witnessing heavy rains and thunderstorms, civic officials said.
The BMC declared a holiday for all government and private schools and colleges in Mumbai on Thursday after the IMD issued a 'red' alert for the metropolis.
The local train traffic on the Central and Western Railway routes was mostly normal though the trains were running a few minutes late, railway officials said.
'It is the most prone month for the development of cyclones in the pre-monsoon period.'
Less-than-expected rainfall and a poor spatial distribution, experts say, can rekindle fears of a rise in food and fuel inflation that can have an impact on the RBI's monetary policy. The fear of less than optimal rainfall due to El Nino this year, analysts believe, is the biggest short-term risk for the markets, which they said has not been fully priced in yet by them. Monsoon set over Kerala on June 08, a week later than its scheduled date.
Dabrera said he has visited all the three venues personally to oversee the preparations.
Kerala has been receiving rainfall since Saturday and 10 out of the 14 weather monitoring stations in the state have received more than 2.5 mm rains.
The country can expect normal rainfall during the southwest monsoon season as a positive Indian Ocean Dipole (IOD) and a lower snow cover over the northern hemisphere are likely to counter the evolving El Nino conditions, the India meteorological department (IMD) said on Tuesday.
IMD issued red alerts for Thiruvananthapuram, Kollam, Pathanamthitta, Alappuzha, Kottayam, Ernakulam and Idukki districts.
According to the IMD, a rain event is categorised as a cloudburst if a weather station receives 100 mm of rain in one hour.
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The IMD also issued a red alert in the same 10 districts for August 3 also.
The weather office has forecast intense spells of rain at isolated places in Nainital, Champawat, Pithoragarh, Bageshwar, Dehradun, Tehri and Pauri districts on Sunday.
The national capital, parts of which reeled under heatwave conditions for the past few days, had some relief on Wednesday with strong winds and partly cloudy skies witnessed during the day.
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
With conditions not favouring its progress, southwest monsoon is expected to hit the Kerala coast by June 4, three days after its normal onset date, the MET department has said.
The India Meteorological Department (IMD) has forecast heavy rainfall in Mumbai and suburbs with very heavy to extremely heavy rains very likely at isolated places.
The system lay centered at 5.30 am over Southeast Bay of Bengal, about 450 km west-northwest of Car Nicobar (Nicobar Islands), 380 km west of Port Blair (Andaman Islands), 970 km southeast of Visakhapatnam (Andhra Pradesh) and 1030 km south-southeast of Puri (Odisha).
Monsoon is critical for the country's 263 million farmers and their rice, cane, corn, cotton and soybean crops because nearly half of its farmland lacks irrigation.
The Southwest Monsoon is set to arrive early with the Andaman and Nicobar Islands expected to receive first seasonal showers on May 15, the weather office said on Thursday.
The cyclone is expected to make landfall on Thursday evening as a 'very severe cyclonic storm' with maximum wind speed reaching up to 150 kilometres per hour, the India Meteorological Department (IMD) said.
Schools and colleges are set to reopen on Monday in three adjoining districts of Chennai, Kancheepuram and Thiruvallur after remaining closed for nearly ten days in view of the monsoon fury.
A prolonged break in monsoon rains in most parts of the country is threatening to hit the yield of kharif crops. It could even delay the upcoming rabi sowing. Major agricultural states, such as Maharashtra, Madhya Pradesh, Andhra Pradesh, Punjab, and Gujarat, have witnessed a deficit of 30-80 per cent in southwest monsoon rainfall in August compared to the long-period average for the month. Meteorologists see no big revival in monsoon rains from hereon, though they forecast "some activity" over the Bay of Bengal on September 5-6.
The central and western parts of India, which form the core monsoon zone, may face challenges in coping with the drying effects due to inadequate rainfall early in the season, Skymet Weather said.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Floodwaters of the overflowing Yamuna reached the entrance of the Supreme Court in Central Delhi on Friday as the regulator of the Delhi irrigation and flood control department at Indraprastha suffered damage on Thursday evening.
Cyclone Biparjoy has left a trail of destruction in Gujarat's Kutch and Saurashtra regions as some 1,000 villages are still without power with hundreds of electric poles getting damaged, while several coastal villages were flooded due to heavy rains and incoming seawater, officials said on Friday, a day after the storm made landfall.
The weather system remained practically stationary during the last six hours and weakened to a depression, and is likely to turn into a well-marked low pressure area during the next 12 hours, it said in a bulletin.
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
The weather system moved west-northwestward and concentrated into a depression on Saturday at 8.30am, close to west of Andaman Islands, the bulletin said.
It's still early days, but the southwest monsoon has been nearly 37 per cent 'below normal' in the first seven days (June 1-7) of this month. According to the data furnished by the India Meteorological Department (IMD), between June 1 and June 7, India received 14.5 millimetres (mm) of rainfall, against a 'normal' 23.1 mm. Among places where rains have arrived, monsoon in Kerala in the first seven days has been 48 per cent 'below normal', while in Puducherry, it has been 56 per cent 'above normal'. In Tamil Nadu, rains were 21 per cent 'above normal' between June 1 and June 7.
The southwest monsoon over the country is likely to be normal in July, the India Meteorological Department (IMD) said on Thursday in its forecast for the month.
