Mumbai. Domestic stock markets fell on Friday with the BSE Sensex falling nearly 1,100 points after the weather department predicted a weak monsoon this year. After opening with gains, the Sensex fell 1,092.06 points (1.44 percent) and closed at 74,775.74 points.

The Nifty-50 index of the National Stock Exchange also fell by 359.40 points or 1.5 percent to 23,547.75 points. The Indian Meteorological Department said this morning that this year the monsoon season is expected to receive rainfall around 90 percent of the long term average, which means the monsoon will be below average. Selling started in the market due to concerns about weak monsoon.

There was a decline in the macro market also. Nifty Midcap-50 index closed down 1.49 percent and Smallcap-100 index closed down 0.85 percent. Indices of all sectors except IT (up 0.60 percent) remained in the red. Selling was seen mostly in oil & gas, metals, auto, banking, finance, FMCG, pharma, health, consumer durables and chemicals groups.

Power Grid’s share among Sensex companies fell by about three and a half percent. There was a decline of 3.25 percent in Indigo and 3.25 percent in NTPC and Mahindra & Mahindra. Shares of Tata Steel, Bajaj Finance, UltraTech Cement, Sun Pharma, Hindustan Unilever, Eternal and Reliance Industries also fell more than two percent. Shares of BEL, HDFC Bank, ITC, Titan, ICICI Bank, Bajaj Finserv, Axis Bank, TCS, Bharti Airtel and Maruti Suzuki fell by one to two per cent.

Shares of Kotak Mahindra Bank, Adani Ports, Trent and State Bank of India also closed down. Tech Mahindra’s shares gained nearly two percent and HCL Technologies gained more than one and a half percent. There was a rise in L&T also.

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